India's Nifty hovers near 10,000; Biocon slumps 6%

Indian shares fell for a third day on Friday, dragged lower by healthcare stocks such as Biocon following U.S. Food and Drug Administration's 10 observations to the company's Bangalore plant.

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Indian shares fell for a third day on Friday, dragged lower by healthcare stocks and financials.

At 0630 GMT, the S&P BSE Sensex shed 0.29 percent to 32,145 while the broader NSE Nifty declined 0.14 percent to 10,000.

Healthcare stocks led the losses. Dr. Reddy's fell 3.6 percent, Aurobindo Pharma lost 3 percent while Sun Pharma declined 2.7 percent.

Biocon plunged 6 percent on getting 10 observations from U.S. Food and Drug Administration for Bangalore plant.

S&P BSE Bankex Index also fell 0.1 percent, pulled down by Yes Bank, Kotak Mahindra Bank and HDFC Bank.

Housing Development & Infrastructure lost 6.2 percent after the National Company Law Tribunal admitted petition of insolvency proceedings against the company.

Tyre manufacturer Ceat declined 7 percent after its first-quarter net profit slumped about 98 percent.

Shares of Ramco Systems and Kokuyo Camlin slipped 5.5 percent and 8 percent, as the companies reported losses in the quarter ended June 30.

Among the gainers, Indian Oil Corp jumped 5 percent. The state-owned oil refiner reported a 45 percent fall in its first-quarter net profit, but beats analysts' estimates.

Market breadth was in the favour of losers, with about 2 stocks declining to every 1 stock that advanced.

Meanwhile, stocks in Asia inched up ahead of U.S. job data later in the day.

The Labor Department's closely watched employment report will probably show that non-farm payrolls increased by 183,000 jobs last month after surging 222,000 in June, according to a Reuters survey of economists.