Indian shares fall

Dhaka,  Sun,  04 December 2016
Published : 13 Oct 2016, 15:53:16

Indian shares fall as heavyweights tumble

Indian shares fall
Indian shares fell on Thursday, dragged lower by heavyweights stocks signalling low risk appetite among investors ahead of some key company results.

Indexes in Asia's second-largest economy tracked losses in regional shares after weak China trade data rekindled global growth worries.

China's September exports fell 10 per cent from a year earlier, far more than markets had expected, while imports unexpectedly shrank 1.9 per cent.

Back home, caution prevailed ahead of quarterly results of software exporter Tata Consultancy Services, which fell 2.1 per cent. 

TCS is expected to report results on Thursday after the market closes, ahead of Infosys' results, which is due on Friday.

The benchmark BSE index was 0.85 per cent lower at 27,848.71 as of 0512 GMT, while the NSE index was down 0.92 per cent at 8,628.32. Both indexes hit their lowest in two weeks.

Indian financial markets were shut on Tuesday and Wednesday for public holidays.

Index heavyweights such as Reliance Industries was down 1.5 per cent, while Housing Development Finance Corp declined 2.5 per cent.

The Nifty Metal index was down nearly 1.0 per cent, reflecting weakness in global metal prices after exports at the world's biggest metals consumer China fell more than expected in September.

Blue Dart Express fell 2.7 per cent after the package delivery company reported a near 21 per cent drop in September-quarter profit, missing analysts' estimates.

Among the gainers, IndusInd Bank rose as much as 2.0 per cent after the lender on Wednesday posted a near-26 percent rise in September-quarter profit.

Cipla rose 1.3 per cent after the drugmaker said on Wednesday that the US Food and Drug Administration cleared its manufacturing facility at Indore, according to Reuters.

-SRS-
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