Sensex Falls 344 Pts, Nifty Slides Below 17,000 Mark In 5th Day Of Losses

MUMBAI: The benchmark BSE Sensex on Wednesday closed at a five-month low, down 344 points due to heavy selling in banking, financial and telecom stocks.

Traders said that apart from this, continuous withdrawal of foreign capital from the domestic market and rupee depreciation kept the stock markets under pressure.

Falling for the fifth consecutive session, the 30-share BSE Sensex ended 344.29 points, or 0.59 per cent, down at 57,555.90. It touched a high of 58,473.63 and a low of 57,455.67 during the day.

The broader NSE Nifty ended 71.15 points, or 0.42 per cent, lower at 16,972.15, with 28 of its stocks ending with losses.

IndusInd Bank was the biggest loser in the Sensex pack, which also included Bharti Airtel, Reliance Industries, HDFC twins, SBI, HUL, Tata Motors, Nestle India and Axis Bank.

On the other hand, Asian Paints, Tata Steel, Titan and L&T were gainers, rising up to 3.03 per cent.

In Asian markets, Shanghai, Tokyo, Hong Kong and Seoul closed in the green.

However, European stock markets were trading with heavy losses in afternoon trade. Major indices on Wall Street closed higher in overnight trade.

Meanwhile, the rupee depreciated 25 paise to close at 82.62 against the US dollar on Wednesday.

International oil benchmark Brent crude rose 0.72 per cent to $78.01 per barrel.

Foreign portfolio investors (FPIs) sold shares worth Rs 3,086.96 crore on Tuesday, according to exchange data.