Stock market extends losing streak amid weak global cues

NEW DELHI, Jan 21 : Indian stock market extended its losing streak for a third consecutive session today amidst weaker global cues and the weakness of Indian rupee against US dollar, with the BSE Sensex crashing by 270.84 points or 0.33 percent to end negative at  81,909.63 and the Nifty s lipping by 75 points or 0.30 pc to 25,157.50.

Among the sectors, barring Nifty Metal which was up 0.57 pc and Oil & Gas up by 0.27 pc, all other indices ended lower.

Consumer Durables index fell nearly 2 pc, while Nifty Bank and PSU Bank crashed by 1 pc each.

On Nifty, the top gainers were Eternal (up by 4.90 pc), InterGlobe Aviation (by 1.40 pc) and Max Healthcare Institute (by 1.32 pc). While, ICICI Bank (down by 2.10 pc), Trent (by 1.98 pc) and Tata Consumer (by 1.69 pc) ended as the top losers.

The advance-decline ratio remained in favour of decliners as over 2,800 stocks declined while about 1,400 advanced on the BSE.

On BSE, around 916 stocks hit their 52-week lows while 59 stocks hit their 52-week highs on the BSE.

Those on the highs were Hindustan Zinc, Muthoot Finance and SKF India (Industrial), while those on lows included ITC, Trent, Dixon Technologies (India), Indian Hotels Company, Havells India, Suzlon Energy and Tube Investments of India.

Paytm shares lost another 4.7 pc to Rs 1,235, to its lowest level in over two months. Tata Communications shares also came under pressure dropping 5.5 pc to Rs 1,617 apiece.

Further, Kalyan Jewellers led the list of top laggards, with the stock plunging 12.2 pc to Rs 396 apiece.

Indian Rupee depreciated to an all-time low of 91.74 against the US dollar.

(UNI)