Indian shares extend fall; Tata Motors slumps

Indian shares fell for a fourth session on Thursday, dragged down by Tata Motors after disappointing outlook while geopolitical worries regarding North Korea also hampered risk appetite.

sensex
A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India. REUTERS

Indian shares fell for a fourth session on Thursday, dragged down by Tata Motors after disappointing outlook while geopolitical worries regarding North Korea also hampered risk appetite.

The S&P BSE Sensex fell 0.84 percent to 31,531 while the broader NSE Nifty lost 0.89 percent to 9,820.

Auto stocks led the losses. Eicher Motors fell 4 percent, Motherson Sumi lost 3.3 percent while TVS Motors declined 1.5 percent.

Tata Motors slumped 8.6 percent while Tata Motors DVR fell 5.6 percent after the company reported lower-than-expected performance by its unit Jaguar Land Rover.

Among the financials, Bank of Baroda, Federal Bank and Punjab National Bank dropped between 3 percent and 4 percent.

Natco Pharma plunged 16 percent after posting a 47 percent decline in quarterly net profit.

Market breadth was in the favour of losers, with about 2 stocks declining to every 1 stock that advanced.

Meanwhile, Asian stocks fell after North Korea said it is considering plans to attack U.S. island territory Guam.

The threat from the Korean peninsula came just hours after U.S. President Donald Trump said in response to a Washington Post report on North Korea's nuclear capabilities that further threats from the country would be met with "fire and fury."

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