Sensex, Nifty extend losing streak for sixth day in row

Mumbai: Equity benchmark indices Sensex and Nifty extended their losing streak for the sixth straight session and settled sharply lower on Monday dragged down by heavy selling in bellwether stocks amid mixed global trends and outflow of foreign funds.

The BSE Sensex tumbled 638.45 points or 0.78 per cent to settle at 81,050.

During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06.

The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75.

From the 30 Sensex firms, Adani Ports & Special Economic Zones, NTPC, SBI, PowerGrid, IndusInd Bank, Axis Bank, HDFC Bank, Titan and UltraTech Cement were the major laggards.

Mahindra & Mahindra, ITC, Bharti Airtel, Infosys, Bajaj Finance, Tata Consultancy Services and Tech Mahindra defied the trend.

The market capitalisation of BSE-listed firms slumped Rs 8,90,153.84 crore to Rs 4,51,99,444.70 crore ($5.38 trillion) from Rs 4,60,89,598.54 ($5.49 trillion).

The BSE midcap gauge dropped 1.85 per cent and smallcap index plummeted 3.27 per cent.

Sector-wise, utilities tanked by 3.63 per cent, while power went down 3.14 per cent, and services slid by 3.12 per cent.

Commodities fell 2.54 per cent, while telecom declined by 2.49 per cent, energy plummeted by 2.46 per cent, and oil & gas and industrials lost 2.38 per cent each.

On the other hand, IT and teck were the only gainers.

European markets were trading on a mixed note on Monday.

In Asian markets, Tokyo, Shanghai, Hong Kong and Seoul settled higher.

Wall Street ended with gains on Friday.

On Friday, the BSE Sensex tumbled 808.65 points to settle at a three-week low of 81,688.45, while NSE Nifty slumped 235.50 points to 25,014.60.

Last week, the BSE Sensex tanked 3,883.4 points, or 4.53 per cent, and the Nifty slumped 1,164.35 points or 4.44 per cent.