Pharma stocks led by Sun, Aurobindo drag Sensex, Nifty

10 August, 2017, 00:15 | Author: Ora Austin
  • Reuters

Overseas, Asian stocks took a breather as investors awaited for more clues on global demand and U.S. interest-rate policy.

The remarks followed a new report asserting that USA intelligence has assessed that North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles.

At the close, the benchmark 30-share index, BSE Sensex lost 216.35 or 0.68% at 31,797.84 with 23 components registering drop. The pessimism gathered on the escalating tension between US and North Korea after North Korea said it is considering plans for a missile strike on the US Pacific territory of Guam. France's CAC, Germany's DAX and Britain's FTSE were down 0.8-1.7 percent at the time of writing this article.

All sectoral indices ended the day in the red.

The sudden suspension in trading in more than 300 "shell companies" on a direction issued by the Securities and Exchange Board of India (SEBI) took the market by surprise on Tuesday with the mid-cap and small-cap segments bearing the maximum brunt. However, sources told CNBC-TV18, there could be some respite to certain firms within a week.

Infosys was the worst performer in the Sensex pack, plunging 1.75 per cent, while TCS and Wipro also closed with losses. "SEBI crackdown on shell companies led to volatility in mid-caps", the report added.

Amy Schumer to make Broadway debut in Steve Martin comedy
It's only his second Broadway production after last year's " Bright Star " which he wrote alongside Edie Brickell . Amy Schumer speaking about her film "Trainwreck" at the 2015 Tribeca Film Festival in New York, April 19, 2015.

Among specific stocks, shares of Mumbai-based developer HDIL declined over 13 per cent taking its losing streak to the fifth session in a row.

Analysts said any fall in domestic equities could be limited.

"Market sentiment was also impacted after market regulator Sebi yesterday, 7 August 2017 imposed trading restrictions on 162 listed entities identified as shell companies".

Drugmaker Sun Pharmaceutical Industries' shares slumped as much as 5 per cent to their lowest in over four years after unit Taro Pharmaceutical Industries June-qtr profit halved to $54.5 million. Lupin, Dr Reddy's Labs and Cipla were down more than 2 percent.

Healthcare, auto and financial stocks lagged.

Recommended:

  • Trump Promises

    Trump Promises "Fire And Fury" For North Korea

    A section of the latest DIA report, which was dated July 28, was read over the telephone to the Washington Post by an official. Military options include launching a "preventative war" against North Korea, White House national security adviser H.R.
    Tropical Storm Franklin Hurricane 2017

    Tropical Storm Franklin Hurricane 2017

    "On the forecast track, the center of Franklin will be near the east coast of the Yucatan peninsula by this evening", the U.S. The storm is also expected to affect several Central American nations including Honduras, Nicaragua, and Belize.
    NYC Mayor Wants To Tax The Wealthy To Fund Subway Repairs

    NYC Mayor Wants To Tax The Wealthy To Fund Subway Repairs

    The governor offered to split the cost of the plan with the city, but the mayor refused to commit money to support it. De Blasio reiterated his skepticism on Monday, while admitting that he hadn't been briefed on the policy for years.
  • Usher accused of sexual battery, fraud and negligence in California lawsuit

    Usher accused of sexual battery, fraud and negligence in California lawsuit

    Sharpton said she attended one of Raymond's concerts for her 19th birthday and was selected to go backstage and meet him. She alleges Usher's security detail spoke to her and told her the Pop Ya Collar singer wanted to meet after the gig.
    Philippines: Duterte calls himself US' 'humble friend' in Southeast Asia

    Philippines: Duterte calls himself US' 'humble friend' in Southeast Asia

    The president of the Philippines is calling for more troops to combat Islamic militants in Marawi city. He added that the issue on human rights was tackled but only in passing.
    Here's Your First Look at Deadpool 2's Cable

    Here's Your First Look at Deadpool 2's Cable

    Jack Kesy is set to play the villain in Deadpool 2 and Shioli Kutsuna and Julian Dennison are also playing mystery roles. He seems to be ready to take on any challengers, even as Ryan Reynolds captioned this image with a more witty response.
  • MATTIS: North Korea should stop before it gets destroyed

    MATTIS: North Korea should stop before it gets destroyed

    Meanwhile, France is urging all sides "to act responsibly and to de-escalate" tensions over North Korea's nuclear ambitions. News of the regime's capability comes against the backdrop of several provocative missile and nuclear tests.
    This dog absolutely demands to watch the 'Despacito' music video

    This dog absolutely demands to watch the 'Despacito' music video

    Besides, the original track's YouTube video is the website's most-watched video of all time. The video is also the most "liked" video on YouTube.
    Tesla Wants to Raise $1.5 Billion for Model 3 Production

    Tesla Wants to Raise $1.5 Billion for Model 3 Production

    But prospective investors in this deal will just get the yield - and perhaps not enough to compensate for the risk, Flaherty said. Unlike Tesla's last fundraising, which used convertible notes, the new notes offering would not dilute equity holders.
  • How To Best Experience The Great Total Solar Eclipse

    Some animals would also make their way to their nightly resting places, as if convinced that it is already nighttime. During most of a solar eclipse, the sun will be partly blocked by the moon, making it less bright.
    Vince Willfork Announces Retirement in Unique Fashion

    Vince Willfork Announces Retirement in Unique Fashion

    In the four games with Wilfork, New England allowed 105 rushing yards per game; in the 12 games without him, it gave up 178.8. Vince Wilfork is walking away from the game of football, and he's doing it in a way that only he can.
    Chinese tourists held for Hitler salute in Germany

    Chinese tourists held for Hitler salute in Germany

    Hitler ruled Germany from 1933 until his death in 1945, and German criminal code outlawed the salute after World War II. This brings so much shame to China,"said one user on Chinese social media platform Weibo ".


Popular

Administration sides with OH in voter purge
Voters who haven't cast ballots for two years are sent a notice asking them to confirm their registration or update their address. The US Court of Appeals for the Sixth Circuit heard the case and ruled that the state policy did violate the NVRA.

OnePlus introduces Soft Gold variant for OnePlus 5
Further, the device supports a list of connectivity options, such as Bluetooth, Wi-Fi, Type-C USB and headset. Last week, we reported that OnePlus was preparing to launch a new color option for the OnePlus 5 flagship.

Johns Hopkins Hospital moves up to #3 among United States hospitals
According to The Boston Globe , this is the first time in 24 years that the hospital has fallen off the US News rankings. The Cleveland Clinic ranked No. 2, followed by Johns Hopkins Hospital at No. 3, up from No. 4 previous year .

Two Boy Scouts Killed In Texas During Troop 620 Boating Trip
Game wardens found the boat on fire about 300 yards (274 meters) from power lines. A gofundme account has been set up to help the family with expenses.

Taylor Swift expected to testify in backstage groping lawsuit case
Swift plans to donate any winnings from the trial to a charity that fights against, and protects women from, sexual assault. Mueller's attorney, Gabriel McFarland, argues that Mueller may have been misidentified after someone else touched Swift .