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Sensex, Nifty End Lower For Second Day

Indian shares followed their global peers lower on Monday as the death toll from a coronavirus outbreak exceeded the SARS epidemic, raising fresh worries about a slowdown in global growth.

The benchmark S&P BSE Sensex ended the session down 162.23 points, or 0.39 percent, at 40,979.62 after hitting as low as 40, 798.98 in intraday trade.

The broader NSE Nifty index dropped 66.85 points, or 0.55 percent, to 12,031.50.

Mahindra & Mahindra, the largest tractor manufacturer in India, slumped 7.2 percent after its quarterly net profit plunged 73 percent from last year.

Zee Entertainment Enterprises also fell over 7 percent on concerns over corporate governance issues.

Tata Steel plunged 5.9 percent after it posted a consolidated net loss of Rs 1,228.53 crore for the December quarter amid a tough operating environment.

Grasim Industries tumbled 4.3 percent after its quarterly net profit declined 70 percent from last year.

Britannia, Yes Bank, Hindalco, Coal India, Eicher Motor and Infratel all fell around 3 percent.

On the positive side, UPL jumped 4.8 percent on brokerage upgrades after posting strong results for the third quarter ended December.

Bajaj Finance advanced 1.6 percent, Kotak Bank added 1.2 percent and TCS rose 0.8 percent.

Shares of Avenue Supermarts, the operator of DMart stores, hit a record high before ending the session 8.5 percent higher at Rs. 2,480.85.

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