Nifty extends losing streak; Coffee Day slumps on debut

MUMBAI (Reuters) - The Nifty broke below the 8,000 level for the first time since Oct. 1, logging a sixth consecutive losing session after a private survey showed the manufacturing sector cooled to its slowest in nearly two years in October.

Market debutant Coffee Day Enterprises , the operator of India's biggest coffee chain, slumped 17.6 percent below its IPO price of 328 rupees as investors fretted over a generous price tag they said underestimated concerns around its complex structure.

The Sensex lost 0.37 percent and closed at 26,559.15.

The Nifty closed down 0.19 percent at 8,050.80, after hitting an intraday low of 7,995.60.

 

(Reporting by Karen Rebelo in Mumbai; Editing by Gopakumar Warrier)