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Markets Print 2019-10-24

Indian shares rangebound

Indian shares wobbled in lacklustre trade on Wednesday, with Yes Bank and Tata Motors Ltd shares dragging the benchmark index lower, as investors scanned a string of disappointing corporate results.
Published October 24, 2019

Indian shares wobbled in lacklustre trade on Wednesday, with Yes Bank and Tata Motors Ltd shares dragging the benchmark index lower, as investors scanned a string of disappointing corporate results.

The broader NSE index was down 0.03% at 11,584.85 by 0412 GMT, while the benchmark BSE index was stronger by 0.05% at 38,981.20.

Shares of Yes Bank Ltd were down as much as 5.02% and were the top two losers on the benchmark index.

Seven of the 12 stocks on the Nifty bank index were in the red, and RBL Bank Ltd, which flagged a slide in quarterly profit on Tuesday, was the biggest decliner with a drop of nearly 20%. Shares of the nation's third-largest lender by market value, Kotak Mahindra Bank Ltd, slipped as much as 1.52% after it trimmed its full-year loan growth forecast on Tuesday.

Copyright Reuters, 2019

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