Markets fall for 2nd day; Sensex, Nifty down 1%

Equity benchmarks continued to remain weak on Monday (August 22) with the Sensex and Nifty falling over one per cent each, dragged down by bank stocks and negative global market trends.

The 30-share BSE Sensex, which had started the trade on a weak note, tumbled 872.28 points or 1.46 per cent to settle at 58,773.87. During the day, it slumped 941.04 points or 1.57 per cent to 58,705.11. The broader NSE Nifty declined 267.75 points or 1.51 per cent to finish at 17,490.70.

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From the Sensex pack, Tata Steel, Asian Paints, Larsen & Toubro, Wipro, UltraTech Cement, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Kotak Mahindra Bank and Axis Bank were the major laggards. On the other hand, ITC and Nestle India ended higher.

In Asia, markets in Seoul, Tokyo and Hong Kong ended lower, while Shanghai settled in the green. Stock markets in Europe were trading lower during mid-session deals. The Wall Street had ended lower on Friday (August 19).

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Meanwhile, the international oil benchmark Brent crude was trading 0.95 per cent lower at USD 95.80 per barrel. Foreign institutional investors (FIIs) turned net buyers, as they picked up shares worth ₹1,110.90 crore on Friday, according to exchange data.

(With inputs from agencies)