Sensex extends fall; DLF, Dr Reddy's down

Reuters Market Eye - The Sensex is down 0.42 percent, after earlier touching its lowest in 2013 intraday. The 50-share Nifty down 0.54 percent, after earlier hitting its lowest since December 26, 2012.

Shares in DLF Ltd fell as much as 3.9 percent a day after India's largest listed real estate developer reported a net profit of 2.85 billion rupees, which missed market expectations.

Dr. Reddy's Laboratories , India's No.2 drugmaker by sales, falls 2.3 percent after it reported a larger-than-expected 29.2 percent drop in quarterly net profit on Thursday.

Bank of America Merrill Lynch downgraded its rating on Dr. Reddy's to "neutral" from "buy".

 

Siemens Ltd falls 1.3 percent, heading towards a second day of losses after India Index Services & Products Ltd said on Wednesday it would be removed from the Nifty from April 1.

(Reporting by Abhishek Vishnoi)