Benchmark equity indices extend losses for 2nd day
- Mumbai: Equity benchmark Sensex declined around 251 points on Monday, pressured by heavy selling in IT, bank and finance stocks amid a mixed trend overseas.
- A depreciating rupee fur ther weighed on sentiment, traders said.
- Sliding for the second straight session, the 30-share BSE Sensex ended 250.9 points or 0.4% lower at 60,432. During the session, the index touched a high of 60,741 and a low of 60,245.
- On similar lines, the broader NSE Nifty dropped 86 points or 0.5% to finish at 17,770.9.
- SBI was the biggest loser in the Sensex pack, tumbling 2.8%, followed by Infosys, TCS, Bajaj Finance, Tech Mahindra, Wipro and Axis Bank.
- In contrast, Titan, L&T, NTPC, Power Grid, Sun Pharma, ITC and HDFC twins were among the prominent winners, rising as much as 2%.
- "In response to rising bond yields and the dollar index, the domestic market is experiencing a broad-based sell-off, with IT and PSBS at the forefront. Clampdown in Adani group is adding anxiety to the domestic market," said Vinod Nair, head of research at Geosits Financial Services. In the broader market, the BSE midcap and small cap indices dropped up to 1.3%.