Nifty ends below 8000; Sensex tanks for sixth day, down 385 pts

The market on Monday remained under pressure as the Sensex was down 385.10 points or 1.47 percent at 25765.14 and the Nifty down 145 points or 1.80 percent at 7929.10, erasing all 2016 gains.

The Sensex has seen the biggest losing streak since March 2015. About five shares declined for every share rising on the BSE.

Shares such as Bank of Baroda, PNB, Federal Bank, Canara Bank, Yes Bank,

SBI and IndusInd Bank were down five to eight percent, while Tata Group stocks like Tata Steel and Tata Motors fell nearly four percent.

Also, drug firm Zydus Cadila has received final approval from the US health regulator to market its Metronidazole tablets used for the treatment of infections caused by bacteria or parasites.

The company has received the final approval from the United States Food and Drug Administration (USFDA) to market Metronidazole tablets USP in strengths of 250 mg and 500 mg.

In a BSE filling Cadila Healthcare said that the drug will be produced at the group's formulations manufacturing facility at Baddi.

"The group now has more than 105 approvals and has so far filed nearly 275 abbreviated new drug applications (ANDAs) since the commencement of the filing process in FY 2003-04," it added.