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Sensex Falls for Second Day as IT and Banking Stocks Drag Markets Lower

Indian equity benchmarks decline following Moody’s US credit rating downgrade and weak global trends, with foreign inflows offering limited support.

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Overview

  • The BSE Sensex dropped 271.17 points (0.33%) to close at 82,059.42, marking its second consecutive day of losses.
  • The NSE Nifty declined by 74.35 points (0.30%) to settle at 24,945.45, reflecting similar downward momentum.
  • Selling pressure was concentrated in IT and banking stocks, with companies like Infosys, TCS, and Tech Mahindra among the worst performers.
  • Weak global markets, driven by Moody’s downgrade of the US credit rating and negative trends in Asian and European indices, contributed to investor caution.
  • Foreign Institutional Investors (FIIs) bought equities worth ₹8,831.05 crore on Friday, partially supporting the market despite the broader decline.