Sensex extends losses, Nifty also slides

BSE Sensex opened 47 points lower at 31,750.73 points and NSE Nifty declined 36 points to open below 9,900 points on Wednesday

BSE Sensex opened 47 points lower at 31,750.73 points and NSE Nifty declined 36 points to open below 9,900 points on Wednesday

The Nifty ended the day at 9,820.25, down 87.80 points, or 0.89 %.

At 11.06 a.m, the Sensex was trading down 85.06 points or 0.27% at 31,712.78 with 20 components falling.

The Sensex on Wednesday plunged by another 216 points to close at a three-week low below the 32,000-mark on growing sense of disquiet following Sebi crackdown against suspected shell companies and rising geopolitical concerns after the U.S. and North Korea exchanged threats.

The broader markets butchered badly as the BSE Midcap index was down 2.6 percent and the Smallcap lost 2.9 percent on weak breadth.

The Nifty Pharma index fell as much as 2.2 per cent to its lowest in over two months.

The gauge had lost 527.57 points in the previous three sessions. "It was the fourth consecutive session of losses, as Nifty closed at nearly its one-month lows", Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.

Tata Motors led benchmark indices on Thursday to extend their losses in early trade in response to its disappointing June quarter (Q1) results announced the previous day. The rupee was trading at 63.97 against the United States dollar which was 0.20 per cent down from its Tuesday's close of 63.84.

Asian stocks turned lower on Thursday with Japan's Nikkei 225 was trading at 19,703.05 down 0.18%, while Hong Kong's Hang Seng at 27,328.60 lower by 1.54% and China's Shanghai SE Composite Index at 3,240.69 below 1.06%. All the sub-indices on the BSE ended in the red, barring the IT index, which rose by 56.73 points, and the Teck index, which was up 7.63 points. Major losers were Tata Motors 6.72 per cent, Tata Mtrdvr 6.66 per cent, ONGC 1.48 per cent, SunPharma 1.23 per cent, NTPC 1.12 per cent and Bajaj Auto 1.08 per cent.

However, Oracle Financial Services Software (down 2.26 per cent), Tata Elxsi (down 1.54 per cent), Tata Consultancy Services (down 0.94 per cent) and MindTree (down 0.83 per cent) were trading lower.

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