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January 24, Wednesday 2018 12:59 PM       

       HEADLINES: Clash spreading in Malappuram, CPM office destroyed                                              CPM using SFI to carry out attacks: Chennithala                                              Malayalee fisherman who died at sea not given respect, protest in Pulluvila                                              SC to hear Kerala love jihad case, Jaideep Gupta to appear for govt                                              Freedom fighter Kottukal A Prabhakaran passes away                                              Father of arrested terrorist Qureshi cries foul                                              Triple Talaq- an excuse to target 'Shariat': Owaisi                                              Impeachment motion against CJI: Yechury discusses possibilities with other parties                                              Shiv Sena to contest 2019 LS polls alone                                              Modi invokes 'Vasudhaiva Kutumbakam' at WEF                                              25 students injured in Pak varsity clash                                              UN agency for Palestinians seeks funds after US cuts                                              Mallya extradition trial's next hearing date remains uncertain                                              Lawmakers back bill to reopen US govT                                              Trump signs funding bill, ends US govt shutdown                                              Blues take on Transport United in AFC Cup                                              Gaurika returns to action in second leg at Hero WPGT                                              Tendulkar gives pep talk to women's team ahead of SA series                                              Australian Open: Federer eases into quarters                                              IPL 2018 to begin from April 6                                              Kaumudi Facebook
       BUSINESS Next Article: Rupee wobbles on global tensions, dives 21 paise to 63.84  
       Sensex closes at 1-mth low, hit by losses for 4th day
 
         Posted on :18:25:41 Aug 10, 2017
   
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       Last edited on:18:25:41 Aug 10, 2017
         Tags: Sensex closes at 1-mth low, hit by losses for
 

MUMBAI: The muscle-flexing by the US and North Korea ratcheted up global worries and made investors a lot more anxious Thursday, with the Sensex crashing 267 points to a one-month low and the Nifty below 9,900.

Both snapped back into loss for the fourth straight day.

The Korean peninsula pot kept boiling as North Korea upped the ante, defying the US President's "fire and fury" warning and threatening to strike its military base in Guam.

The markets have already been downbeat reeling under the regulatory clampdown after Sebi's Monday directive imposing trading restrictions on suspected shell companies.

After opening lower, the Sensex recovered, but only to slip again to hit a low of 31,422.80 before settling down 266.51 points, or 0.84 per cent, at 31,531.33. The level was last seen on July 7 when it ended at 31,360.63.

The gauge had lost 527.57 points in the previous three sessions.

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

Lower-than-expected earnings by Tata Motors, Eicher Motors and a few others soured risk appetite. Tata Motors emerged as the top loser among Sensex constituents by slumping 8.60 per cent after the company's June quarter earnings failed to meet market expectations.

"We believe that it is a moderation within the bull phase due to geo-political tension... Additionally, domestic confidence has fallen given Sebi's action over shell companies while a slowdown in business growth will lead to downgrade in earnings forecast for the next 1-2 quarters," said Vinod Nair, Head of Research, Geojit Financial Services.

Sentiment remained depressed, largely in sync with weak Asian markets and a lower opening in Europe. Market has been going through a consolidation phase after hitting life highs last week.

Other Sensex losers were Dr Reddy's, Sun Pharma, Cipla, SBI, Lupin and PowerGrid, falling up to 4.77 per cent.

However, software exporters such as Infosys, Wipro and TCS emerged unscathed with gains, after the rupee weakened against the dollar, helping the BSE IT index close in the green by rising 0.63 per cent.

The BSE realty index tanked the most, plunging 5.12 per cent. Healthcare, auto and power followed.

Small-cap and mid-cap indices too fell by 2.90 per cent and 2.64 per cent, respectively, on dilution of exposure by retail investors.

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       BUSINESS
Next Article: Rupee wobbles on global tensions, dives 21 paise to 63.84
 
 
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Will Wednesday's Motor strike be of any help to public?
yes
 
no
 
don't know
 
 
 
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