Late Selling Pressure Drags Sensex To Ninth Session Of Losses

INSUBCONTINENT EXCLUSIVE:
Domestic equity benchmarks extended losses reversing intraday gains after selling pressure intensified in information technology
heavyweights - Tata Consultancy Services and Infosys in last hour of trade
The SP BSE Sensex clocked ninth session of losses, its longest losing streak in nearly eight years, and Nifty 50 Index fell for eighth day
in a row
In the last nine trading sessions, the Sensex has plunged over 4 per cent or 1,622 points
In today's trade, the Sensex ended 146 points or 0.41 per cent lower at 35,353 and the NSE Nifty 50 Index shut shop at 10,604, down 36
points or 0.34 per cent.For most part of the day, Sensex and Nifty traded firmly higher on the back of gains in ICICI Bank, Larsen Toubro
and State Bank of India
However, selling in IT heavyweights and HDFC twins wiped out entire intraday gains
From the highest point of the day, Sensex fell as much as 489 points and Nifty declined over 100 points to fall below important
psychological level of 10,600.Wipro was the top loser from the Nifty 50 basket of shares, the stock fell 3.3 per cent to Rs 363
Tata Consultancy Services, IndusInd Bank, Adani Ports, NTPC and Infosys were also among the losers, down 2.3-3.2 per cent each
On the other hand, Vedanta was top gainer, up 3.3 per cent at Rs 153
Grasim Industries, Bharat Pteroleum, Zee Entertainment and JSW Steel were also among the gainers.Thirteen of 19 sector gauges compiled by
BSE ended higher led by the SP BSE Realty Index's 1.7 per cent gain
On the flipside, SP BSE Information Technology Index was top loser, down 2.1 per cent.Mid- and small-cap shares outperformed their larger
peers as the SP BSE Midcap Index rose 0.5 per cent and the SP BSE Smallcap Index advanced 0.3 per cent.