Stock market extended losses for the second straight day this week driven by falling rupee, rising crude oil prices and global trade worries which spoiled investor sentiment. Broad-based selling pressure intensified across the market.
Nifty50 of National Stock Exchange ended the day 150.60 points lower at 11,287.50, while BSE Sensex closed 509.04 points down at 37,413.13. All the Nifty sectoral Indices ended in the red with FMCG space, the worst hit which closed 2.41% lower in trade today.
Winners & Losers-Titan (4.50%), Tata Steel (3.94%) and ITC (3.38%) were the top nifty losers. On the other hand, Coal India (1.72%) was the top Nifty gainer followed by Mahindra & Mahindra and NTPC rising 1.03% and 0.53%, respectively.
Today’s loss estimates the Sensex has lost about 900 points in two consecutive days this week. IT stocks managed to keep gains, following plunge in the rupee. Meanwhile, European markets were also falling to an extent following concern over the U.S China trade conflict.