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Equities extend losses after dismal results by Tata Motors


Stock markets extended losses on Friday after auto posted its worst quarterly loss of Rs 26,993 crore due to an impairment charge of 3.1 billion pounds for

Shares of SAIL and too nosedived 6 per cent and 5 per cent. Welspun Crop, and contributed to the fall.

The closed 425 points or 1.15 per cent lower at 36,546. The closed 126 points or 1.14 per cent down at 10,943.

shares plunged nearly 18 per cent to close at Rs 150.15, marking its biggest intra-day fall in several years.

The auto maker has been suffering due to challenges at its British subsidiary JLR, which has been hit by low demand for diesel cars in and Brexit worries.

Financial stocks also slipped during the day with and State Bank of showing negative performance.

However, gained after it accused and of invoking and selling pledged shares illegally.

Meanwhile, Asian stock markets were in the red as concerns mounted over the success in trade talks between the and

Investors chased reports that US and his Chinese counterpart were unlikely to meet before the March 1 deadline set by the for reaching a trade deal.

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

First Published: Fri, February 08 2019. 16:25 IST