Stock Markets Close Lower For 2nd Day; IT Stocks Fall After US Rating Downgrade

Benchmark BSE Sensex dropped by 271 points on Monday, marking the second straight day of losses due to selling in IT and banking stocks and a weak trend in global markets after rating downgrade of the US by Moody's Ratings.

- Press Trust Of India

The 30-share BSE barometer declined 271.17 points or 0.33 per cent to settle at 82,059.42. During the day, it dropped 366.02 points or 0.44 per cent to a low of 81,964.57.

The NSE Nifty dipped 74.35 points or 0.30 per cent to 24,945.45.

Among Sensex firms, Eternal, Infosys, Tata Consultancy Servicwes, Tech Mahindra, Reliance Industries, Asian Paints, HCL Tech and Adani Ports were the laggards.

Power Grid, Bajaj Finance, NTPC, State Bank of India and IndusInd Bank were among the gainers.

Among sectors, realty, pharma, and auto shares advanced while IT declined by over a percent.