India’s benchmark indices extended losses for the second straight session on Wednesday. The BSE Sensex closed 151.95 points down at 33,218.81, and the National Stock Exchange Nifty ended 47 points lower at 10,303.15 – both pulled down by shares of Reliance Industries and Bharti Airtel.
Tension over falling global oil prices dragged Reliance Industries down around 2%. Shares of Bharti Airtel dropped over 3.5% after it was reported that a key investor was selling its 5% stake in the telecom company.
Airtel, Tata Motors, Lupin, ICICI Bank and Reliance Industries were the biggest losers on Sensex and Nifty on Wednesday. Axis Bank, Asian Paints, Cipla and Sun Pharmaceuticals were the best performers on both indices.
The rupee recovered after touching a two-week low mid session on Wednesday. At 2.10 pm, it was trading 0.10% up from its Tuesday’s close of 65.03 at 64.97 against the dollar. The home currency was supporter by the gains made by other Asian currencies.