Sensex continues to lose, Nifty reaches below 10400 mark

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The benchmark Bombay Stock Exchange BSE-30 share index lost 66.48 points in early trade to be at 33729.26.

It had earlier lost 82.20 points in the previous two sessions.

Sensex extended its losses for a continuous third day after losing 66 points in the early hours of trading today. It was on selling by domestic institutional investors and foreign funds amid mixed Asian cues.

The selling pressure was also in oil and gas, FMCG, metal, PSU, power stocks and banks amid a depreciating rupee to weighed on market sentiment.

Major laggards were NTPC, ONGC, ICICI Bank, Hindustan Unilever, Reliance Industries and Tata Steel by falling up to 0.75 percent.

National Stock Exchange Nifty shed 21.05 points to be at 10389.85, i.e. below 10400-mark.

Gitanjali Gems continued to fall by 4.78 percent to Rs 12.95.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 258.98 while domestic institutional investors (DIIs) sold shares worth Rs 432.03 crore on Wednesday.

Asian Markets also traded lower after a decline on the Wall Street overnight. Japan’s Nikkei shed 0.47 percent while there were not many changes on Hong Kong’s Hang Seng. Nasdaq was down by 0.19 percent to close in red while FTSE 100 lost 0.09 percent. The US Dow Jones Industrial average also ended 1 percent lower on Wednesday.

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