Indian benchmark indices extend losses for fourth consecutive trading session - LuvKush Finserve

Benchmark indices extended losses for fourth consecutive trading session amid weak global cues, along with metal, FMCG and IT shares leading the sharp decline. The rupee also hit fresh all-time low, trading around 64.52 per dollar on rising expectations that the US Federal Reserve will soon start withdrawing its monetary stimulus to the US economy.

The Sensex ended down 340 points at 17,906 after hitting an intra-day low of 17,807 and the Nifty ended down 99 points at 5,303 after touching an intra-day low of 5,268. Nifty touched the lowest level since September 11, 2012.

The broader market ended lower with BSE Mid-cap index down 1.24% and the Small-cap index ending down 0.82%. Government bonds were headed for their biggest gain in at least 15 years, while the rupee remained under pressure after the Reserve Bank of India (RBI) said it will buy bonds to ease a cash crunch, and relaxed bond holding rules for lenders.

BSE Metal and Oil & Gas indices dipped by almost 4% followed by counters like Realty, FMCG, Heathcare, Capital Goods, TECk, Power and Auto, all slumping between 2-3%. Apart from Banks and Consumer Durables, all the major BSE sectoral indices ended in red zone.

Source : Equity Bulls

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