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Sensex, Nifty End Lower For Fifth Day

Indian shares fell for a fifth consecutive session on Friday, with sentiment hit by weak global markets, after U.S. President Donald Trump kept up his tough talk, warning Kim Jong Un's government to "get their act together" or face extraordinary trouble.

The president insisted the North had been "getting away with a tragedy that can't be allowed." He also suggested that his earlier threat to rain "fire and fury" on North Korea "wasn't tough enough."

A falling rupee and weak earnings updates from prominent public sector banks also weighed on markets. The benchmark BSE Sensex fell by 317.74 points or 1.01 percent to 31,213.59, while the broader Nifty index finished down 109.45 points or 1.11 percent at 9,710.80.

Market heavyweight State Bank of India tumbled 5.5 percent after the country's largest lender reported a 20 percent fall in quarterly net profit with deteriorating asset quality.

Union Bank of India lost 5 percent as its Q1 profit fell about 30 percent, hit by rising bad loan provisions. Indian Overseas Bank lost 2.6 percent after reporting a loss of Rs 499 crore for the first quarter ended June.

J Kumar Infraprojects and Prakash Industries slumped around 20 percent as trading resumed in their shares post SAT order lifting curbs imposed by market regulator SEBI.

Tata Motors dropped 1.4 percent to extend Thursday's selloff after posting disappointing quarterly results. Sun Pharma declined 2.7 percent on posting a surprise loss in the June quarter.

by RTTNews Staff Writer

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