Mumbai: The BSE Sensex and NSE Nifty stayed lower for the second consecutive session on Wednesday due to Greece concerns and rupee weakness. Uncertainty over Greece bailout after election results sent global stocks lower since yesterday - Asian markets were down 0.75-1.65 per cent at close on Wednesday.
Banks, oil & gas, steel, auto and power stocks weighed down the market while the rally in ITC and TCS limited the downside.
Overall the market was lacklustre today as the BSE benchmark shed more than 600 points since Friday. The index fell 66.60 points or 0.40 per cent, to close at 16,479.58. Meanwhile, the NSE benchmark declined 25.15 points or 0.5 per cent to 4,974.80.
Sudarshan Sukhani of s2analytics.com feels the market will slide down. According to him, the market is looking towards 4800.
The Indian rupee extended losses in afternoon trade and was at 53.80 to the dollar, down 68 paise on global risk aversion. State-run bank dealer says exporters holding back the rupee, looking to sell when USD-INR closer to, or at, 54 levels.
(With additional information from Reuters)
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