Sensex ends 275 points lower; Nifty at 10,600

NEW DELHI: Markets on Wednesday finished in red, extending its losses for the second straight session amid weak global cues. The benchmark BSE Sensex tanked 275 points or 0.77 per cent to close at 35,200 and the broader NSE Nifty dropped 56 points or 0.53 per cent to end at 10,600.

On the BSE index, IT stocks took a beating as Tata Consultancy Services, Infosys and Wipro lost as much as 3.55 per cent. On NSE, sub-indices Nifty IT, Metal and Media were among the worst performers, sliding as much as 2.84 per cent.

“Markets are down on negative global sentiment. But they have moved up quite a bit from their recent lows, so at these levels there is some nervousness as the corporate earnings season is over,” said Siddhartha Khemka, head of retail research at Motilal Oswal Securities.

“Market is now looking forward for OPEC’s (Organization of the Petroleum Exporting Countries) actions, comments from the US and China on trade war,” he added.

Brokers said a weak trend in other Asian markets following extended rout at Wall Street on Tuesday on disappointing earnings amid fears over slowing global growth on US-China trade dispute and the steady rise in interest rates, dampened local investor sentiment.

(With inputs from agencies)

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