Markets extend losses for fourth day; Bajaj Finserv falls over 2%

Equity benchmarks stayed on the backfoot for the fourth consecutive session on Thursday as IT and finance counters bore the brunt of hectic selling amid weak Asian cues.

A continuously declining rupee and grim macroeconomic data also sapped investor confidence, traders said.

The 30-share BSE Sensex ended 164.11 points or 0.31 per cent lower at 52,318.60. Similarly, the broader NSE Nifty shed 41.50 points or 0.26 per cent to close at 15,680.

Bajaj Finserv was the top laggard in the Sensex pack, tumbling 2.20 per cent, followed by Infosys, UltraTech , Tech Mahindra, IndusInd Bank, Bajaj Finance and HDFC Bank. On the other hand, Dr Reddy's, Bajaj Auto, Maruti and NTPC were among the gainers, climbing up to 2.56 per cent.

"Selling was triggered in the domestic market as investors remained cautious about the increasing Covid cases especially in Asia. Despite the easing of restrictions, the manufacturing PMI data for June contracted to 48.1 from 50.8 in the previous month.

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