Indian shares fall in line with regional peers

Published: February 11, 2019 16:30:07 | Updated: February 15, 2019 10:13:59

File Photo (Collected)

Indian shares fell on Monday, in line with broader Asian markets, as global growth worries, including the US-China tariff war, and lacklustre domestic earnings muted sentiment.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.51 per cent.

Oil marketer Bharat Petroleum Corp Ltd dropped as much as 2.8 per cent after posting a 77 per cent plunge in quarterly profit, pulled down by higher expenses, reports Reuters.

Refiners Indian Oil Corp Ltd and Hindustan Petroleum Corp Ltd shed as much as 1.4 per cent each.

Auto stocks were also trading in the red after Tata Motors Ltd and Mahindra & Mahindra Ltd extended declines to dive over 3.0 per cent each after reporting disappointing quarterly results last week.

The broader NSE Nifty was down 0.48 per cent at 10,890.10, as of 0604 GMT, while the benchmark BSE Sensex slipped 0.32 per cent to 36,426.85.

Dr. Reddy’s Laboratories Ltd was the biggest loser on the NSE index after falling as much as 5.6 per cent.

The generic drugmaker’s Hyderabad-based plant was issued a Form 483 with 11 observations by the US Food And Drug Administration after market hours on Friday.

The FDA Form 483 notifies the company’s management of objectionable conditions.

Bucking the trend, IT stocks were among the handful of gainers on the Nifty, with Infosys Ltd and Tata Consultancy Services Ltd gaining up to 0.8 per cent each.

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