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Market may extend recent weakness

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Trading of 50 index futures on the stock exchange indicates that the could fall 29 points at the opening bell. of Security and Intelligence Services (India) (SIS) gets listed on the stock exchanges today, 10 August 2017.

Overseas, Asian stocks were trading lower on escalation in tensions between the US and North Korea. US stocks closed lower yesterday, 9 August 2017 as tensions between North Korea and the US added a dollop of geopolitical uncertainty to markets, and as high-profile companies disappointed with their quarterly results.

In the latest escalation of tensions between Washington and Pyongyang, the isolated Asian country threatened a missile strike at US territory Guam. That saber-rattling came a day after US President Donald Trump said he would respond with fire and fury like the world has never seen if the country doesn't halt its threats.

On the Federal Reserve front, Chicago Fed President Charles Evans said he supported starting a reduction of the central bank's $4.5 trillion balance sheet in September but was ambivalent about another rate hike this year.

Back home,key benchmark indices registered losses for third day in a row yesterday, 9 August 2017 as weakness in global stocks amid escalating geopolitical tensions between US and North Korea weighed on sentiment on the domestic bourses. The Sensex dropped 216.35 points or 0.68% to settle at 31,797.84, its lowest closing level since 18 July 2017.

The trading activity on that day showed that the foreign portfolio investors (FPIs) sold worth a net Rs 841.44 crore yesterday, 9 August 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought worth a net Rs 553.17 crore yesterday, 9 August 2017, as per provisional data.

Among corporate news,Tata Motors' consolidated net profit rose 41.59% to Rs 3200 crore on 9.92% drop in revenue to Rs 58651 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 9 August 2017. Revenue was lower due to translation impact from Pound to Rupee.

The operating performance broadly reflects lower wholesale volumes for Jaguar Land Rover business excluding the China joint venture, and continuation of higher competitive incentive levels and launch and growth costs seen in FY 2017. In standalone business, a significant de-growth in the medium & heavy commercial vehicles (M&HCV) segment, flat light commercial vehicles (LCV) segment and moderate growth in passenger vehicle segment was seen.

Aurobindo Pharma's consolidated net profit fell 11.4% to Rs 518.51 crore on 2.3% decline in net sales to Rs 3621.07 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 9 August 2017.

Eicher Motors' consolidated net profit rose 22.1% to Rs 459.62 crore on 28.5% growth in net sales to Rs 1991.78 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 9 August 2017.

of Security and Intelligence Services (India) (SIS) gets listed on the stock exchanges today, 10 August 2017. The issue price is fixed at Rs 815 per share. Promoted by Ravindra Kishore Sinha and Rituraj Kishore Sinha, SIS is a leading provider of private security and facility management services in

The initial public offer (IPO) of SIS which concluded on 2 August 2017, received strong response from investors. It was subscribed 7.07 times. The IPO price band was fixed at Rs 805-815 per share.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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