The Indian stock market extended its losses to a fourth successive session on Friday as sustained selling by foreign investors in recent sessions, rising crude oil prices and concerns about near term outlook for the economy weighed on sentiment.
Leads from global markets were not any negative. Asian markets ended mostly higher and major European markets were edging up marginally. But the mood in the Indian market continued to stay subdued amid lingering concerns about near term economic outlook and somewhat disappointing quarterly results from several top notch companies.
The BSE benchmark Sensex ended down 300.82 points or 0.86 percent at 34,848.30 and the National Stock Exchange's Nifty 50 declined 86.30 points or 0.81 percent to 10,596.40.
Capital goods stocks were among the worst hit. The BSE Capital Goods index declined more than 3 percent. Metal, realty, telecom, healthcare, power, automobile and oil stocks too ended notably lower. A few stocks from information technology and FMCG sectors found some support.
Bajaj Finance, Tech Mahindra, Hindustan Unilever, Kotak Bnk, IndusInd Bank, ITC, Colgate Palmolive and Britannia Industries gained 1 to 4 percent.
Uttam Sugars, Ucal Fuel Systems and Time Techno were among the notable gainers.
Cipla, Wipro, Indiabulls Housing Finance, Sun Pharmaceutical Industries, Tata Motors, Tata Steel, Larsen & Toubro, ICICI Bank, UltraTech Cement and Lupin declined sharply. Strides Shasun plunged 22% on weak results.
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