Sensex extends losses to fourth day in a row; IT, financial services stocks drop

NEW DELHI: Domestic benchmark indices remained under pressure throughout the day on Thursday and ended in the red for the fourth session in a row dragged by selling pressure witnessed in IT and financial services stocks.

Investors remained cautious about the increasing Covid-19 cases, especially in Asia. Meanwhile, in India, despite the easing of restrictions, the manufacturing PMI reading contracted to 48.1 in June from 50.8 in the previous month.

The 30-share pack Sensex declined 164.11 points or 0.31 per cent to close at 52,318.60. Its broader peer NSE Nifty dropped 41.50 points or 0.26 per cent to settle at 15,680.

“However, the diminishing rate of domestic infections and the progress in vaccinations provided some comfort to the market. Positive auto sales numbers for June helped the sector trade in positive territory,” said Vinod Nair, Head of Research at Geojit Financial Services.

Market at a glance:

• Sequent Scientific plunges 9% after co reports March quarter earnings
• Vodafone Idea plummets 9% as auditor raises doubts over company’s future
• Jain Irrigation hits 10% upper circuit as net loss narrows in Q4
• Bajaj Auto gains 2% after June sales grow 24%
• Volatility index India VIX eases 1.6%, slides below 13 mark