Nifty ends over 1 percent lower, Tata Motors drags
Friday,
08-Feb-2019
04:28 PM (IST)
Indian shares ended over 1 percent lower on Friday, hammered by auto stocks such as Tata Motors Ltd after the automaker stunned markets by posting the biggest-ever quarterly loss in Indian corporate history. The broader NSE Nifty closed 1.14 percent lower at 10,943.60, while the benchmark BSE Sensex was down 1.15 percent at 36,546.48. For the week, NSE Nifty added 0.5 percent, while the BSE Sensex gained 0.2 percent. Biggest drag on both the indexes were Tata Motors’ shares, ending 17.6 percent lower, their lowest closing level since Oct. 5, 2011. It posted a loss of about $3.8 billion for the three months ended Dec. 31, mostly due to a massive impairment at its British luxury car making unit Jaguar Land Rover.
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