The Bombay Stock Exchange Sensex on Wednesday shed points for the third straight session, ending 216.35 points down at 31,797.84. The National Stock Exchange Nifty, too, dropped, closing 70.50 points lower at 9,908.05.
Both benchmark indices were weighed down by tensions between the United States and North Korea, though the Sensex was dragged below the 32,000 mark by healthcare and financial stocks, as well.
Pharma stocks were affected after the shares of Sun Pharmaceutical began to trade at a 52-week low. The company’s shares fell by more than 5% on both the Sensex and Nifty after its US-based subsidiary Taro Pharmaceutical reported that its net income had halved to $54.5 million (around Rs 347.70 crore) in the June quarter.
Indian markets had suffered on Tuesday after the Securities And Exchange Board Of India issued a directive asking stock exchanges to take action against 331 suspected shell companies. Sensex had closed almost 260 points down, and the NSE was ended at 9,978.55 – more than 78 points lower.