Tata Motors drag down Indian markets

Indian shares ended at their lowest in two weeks on Wednesday, with Tata Motors pulling the indexes down after posting disappointing results.

On Tuesday, the NSE Nifty fell by 12.75 points or 0.14 per cent to 8,792.30 points, and the BSE Sensex closed 12.31 points, or 0.04 per cent down at 28,339.31 points.

Meanwhile, the broad based NSE Nifty fell by 67.60 or 0.77% at 8,724.70 with 40 components posting drop. Shanghai reduced 0.15 per cent. Hang Seng increased 1.23 per cent. Nikkei rose 1.03 per cent.

Of the 30-share Sensex pack, 18 scrips ended lower while the remaining 12 firmed up. The BSE Small-Cap index provisionally dropped 1.52 per cent.

Stocks of Sun Pharma too plunged by 3.28 per cent to Rs 628.80 on sustained selling by participants after the company reported 4.72 per cent decline in consolidated net profit for the third quarter quarter of 2016-17.

It was followed by Tata Steel 2.57 per cent, Adani Ports 2.09 per cent, Hero Motoco 1.99 per cent, ICICI Bank 1.49 per cent, Maruti 1.32 per cent, Dr reddy 1.27 per cent, NTPC 1.08 per cent and Bharti Artl 0.99 per cent.

Major Sensex gainers on Monday were: Mahindra and Mahindra (M&M), up 1.80 per cent at Rs 1,301; Infosys, up 1.60 per cent at Rs 983.50; Power Grid, up 1.60 per cent at Rs 203.05; Hindustan Unilever (HUL), up 1.31 per cent at Rs 861.60; and Wipro, up 1.21 per cent at Rs 473.75.

The sectoral indices like Industrials, Materials, Auto and Realty edged lower, while buying in Energy, Telecom and Bankex capped its further decline, brokers informed.

The BSE market breadth was tilted in favour of the bears - with 1,660 declines and 1,022 advances. The index fell as much as 2 percent to 21,487.

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