Indian stock markets extended losses where both NSE Nifty and BSE Sensex tumbled as much as 1%. The 50-share index Nifty hit below 8350 mark and closed at 8346 while the 30-share index Sensex shed 274 points and closed just above 27000 mark at 27034.
Nifty closed below 8350 for the first time in 8 sessions. The whole pessimism was driven ahead of Trump’s inauguration later in the day and after Janet Yellen’s cues on a steady outlook on rate hikes.
Broader markets slightly underperformed by losing 1.5% and 1.3% in Midcap and Smallcap index.
Market breadth remained highly negative with 847 advances and 1856 declines. Indian currency is live at 68.16 with drop of 4 paise against US dollar.