Nifty ends below 8450, Sensex falls over 150pts; pharma bleeds

The market has ended in red for 5th consecutive day. The Sensex was down 156.13 points or 0.6 percent at 27274.15, and the Nifty slipped 51.20 points or 0.6 percent at 8433.75. About 698 shares have advanced, 2205 shares declined, and 119 shares are unchanged.

Sun Pharma, Dr Reddy's Labs, Lupin, Hero and Coal India were top losers while ITC, Wipro, M&M, HUL and ICICI Bank were losers in the Sensex. 

Larsen & Toubro dropped 2 percent after the government offloaded 1.6 percent stake in early trade.

However, ITC retained its top position in the buying list, up 4 percent after the GST panel fixed rates.
Watch and jewellery maker Titan Company missed analysts' expectations on topline and bottomline front but margin was ahead of estimates. Profit grew by 23.5 percent year-on-year to Rs 180.7 crore in the quarter ended September 2016.

Revenue during the quarter fell 0.2 percent to Rs 2,675.7 crore on yearly basis, impacted by degrowth in watch business and muted growth in jewellery segment.

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