Etsy (NASDAQ: ETSY) issued yet another disappointing earnings report on Wednesday. Investors have been hoping for a turnaround after several quarters of flat growth, but Etsy's first-quarter earnings report came up short.The company reported another quarter of declining gross merchandise sales (GMS), the total dollar value of goods sold on the platform, and its guidance did little to stoke.
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Shares of tyre companies like CEAT Ltd., Apollo Tyres Ltd., MRF Ltd., JK Tyres Ltd., slipped more than 5% in Tuesday's trading session. This underperformance in tyre stocks was seen on a weak day for markets where Nifty slipped by about 130 points to trade at 22,305.80 levels. Ceat was the top looser from the pack of tyre stocks, down by more than 5%.
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Amid nervousness in the market during voting for the third phase of the Lok Sabha election, Indian benchmark equity indices closed lower on Tuesday, dragged by index heavyweight Reliance Industries, banking and auto stocks.The 30-share BSE benchmark Sensex declined 384 points or 0.52% to settle at 60,432. The broader NSE Nifty dropped 140 points or 0.62% to end at 22,302.
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