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Sensex, Nifty Fall Amid F&O Expiry

Indian shares fell on Thursday amid mixed global cues and the expiry of July series derivative contracts. Banks and financials paced the declines on worries about a further deterioration in their asset quality.

The benchmark S&P BSE Sensex dropped 335.06 points, or 0.88 percent, to 37,736.07, while the broader NSE Nifty index ended down 100.70 points, or 0.90 percent, at 11,102.15.

BPCL slumped as much as 7.9 percent as the government extended a deadline for bidding for the privatization of the oil refiner by two months.

HDFC tumbled 3.9 percent after the mortgage lender reported a 4.7 percent fall in Q1 net profit.

Tata Motors, Bharti Airtel, Axis Bank, IOC and IndusInd Bank gave up 2-5 percent, while Dr Reddy's Laboratories surged 4.6 percent on reports that it plans to launch Covid drugs remdesivir and favipiravir in August.

Sun Pharma shares rallied 3.7 percent while Maruti Suzuki, Vedanta and Wipro rose 1-2 percent.

Globally, other Asian markets ended mixed as the relentless surge in coronavirus cases across the world offset investor optimism over the Fed's dovish policy statement.

Fed policymakers renewed their pledge to utilize all means at their disposal to set the virus-hit economy on the path to recovery but warned that the outlook would depend on the course the virus takes.

European stocks fell sharply in early trade as the latest batch of earnings disappointed and data showed German GDP slumped by the most since 1970 in the second quarter.

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