Sensex, Nifty extend losses into second straight session, IT stocks drag

Equity benchmark indices Sensex and Nifty stayed on the back foot for the second straight session on Friday as investors offloaded FMCG, IT and teck stocks amid a weak opening in European markets.

Selling pressure in index heavyweight Reliance Industries also added to the weak trend in equities.

The 30-share BSE Sensex fell 223.01 points or 0.35 per cent to settle at 62,625.63. During the day, it declined 253.9 points or 0.40 per cent to 62,594.74.

The NSE Nifty went lower by 71.15 points or 0.38 per cent to end at 18,563.40.

Tata Steel was the biggest loser in the Sensex chart, slipping nearly 2 per cent, followed by State Bank of India, Hindustan Unilever, HCL Technologies, Infosys, ITC, Asian Paints, Mahindra & Mahindra, Tech Mahindra, Tata Consultancy Services and Reliance Industries.

On the other hand, IndusInd Bank, Axis Bank, Larsen & Toubro, Power Grid, UltraTech Cement and Tata Motors were among the gainers.