Sensex, Nifty extend losses into 2nd session as Reliance, Airtel drag

Benchmark equity indices Sensex and Nifty closed lower on Thursday, tracking losses in the most valuable firm Reliance Industries, Bharati Airtel and L&T amid a negative trend in global markets. The 30-share BSE Sensex failed to hold on to initial gains and declined 151.48 points or 0.18 per cent to settle at 82,201.16. During the day, it dropped 222.2 points or 0.26 per cent to 82,130.44.

The NSE Nifty dipped 53.60 points or 0.21 per cent to 25,145.10 despite a positive beginning of the trade.

Among the 30 Sensex firms, Reliance Industries declined over 1 per cent. Tata Motors, Nestle, Bharti Airtel, Bajaj Finance, Larsen & Toubro, JSW Steel and Mahindra & Mahindra were other big laggards.

In contrast, Titan, ITC, Infosys, HCL Technologies, Tata Steel and State Bank of India were among the biggest gainers.

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

European markets were trading mostly lower in mid-session deals. The US markets ended on a mixed note on Wednesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 975.46 crore on Wednesday, according to exchange data.

On Wednesday, the BSE benchmark dropped 202.80 points or 0.25 per cent to settle at 82,352.64. The Nifty declined 81.15 points or 0.32 per cent to 25,198.70. The Nifty had surged nearly 1,141 points or 4.59 per cent in 14 straight days.

Meanwhile, global oil benchmark Brent crude climbed 1.14 per cent to USD 73.53 a barrel.