Business Standard

Sensex falls sharply as ITC drags

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Reuters

(Reuters) - Indian shares closed lower on Wednesday, dragged by a sharp fall in ITC Ltd after the cigarette-maker reported quarterly results, while IT and financial stocks also contributed to the losses.

The broader Nifty ended down 0.84 percent at 10,831.5, while the benchmark Sensex ended 0.92 percent weaker at 36,108.47.

Shares of ITC slumped 4.3 percent to their worst close since Dec. 26, despite beating analysts' estimates for third-quarter profit.

HDFC Bank Ltd's stock dropped 1.4 percent while that of IT giant Infosys Ltd declined 1.8 percent.

(Reporting by Chris Thomas in Bengaluru; Editing by Rashmi Aich)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Jan 23 2019 | 4:09 PM IST

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