Sensex, Nifty Extend Losses For Fourth Day

(RTTNews) - Indian shares extended their declines into fourth straight day on Friday amid selling across the board.

Local markets followed global peers lower as rising U.S. Treasury yields coupled with underwhelming U.S. economic data released overnight dented investor confidence in a faster economic recovery from the Covid-19 pandemic.

The benchmark S&P BSE Sensex hit as low as 50,624.33 before recouping some losses to end the session down 434.93 points, or 0.85 percent, at 50,889.76.

The broader NSE Nifty index ended down 137.20 points, or 0.91 percent, at 14,981.75, after having hit a low of 14,898.20 in intraday trade.

SBI, Tata Motors, Hero MotoCorp, Tata Steel and ONGC fell 4-5 percent in the Nifty pack, while GAIL, Hindustan Unilever, IndusInd Bank, Dr Reddy's Laboratories and UPL rose 1-3 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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