Indian Shares Extend Losses For Third Day

(RTTNews) - Indian shares extended a bruising selloff into a third straight session on Wednesday as risk aversion gripped financial markets on the back of rising bond yields and U.S. President Donald Trump's renewed push to acquire Greenland.

The BSE Sensex tumbled more than 850 points before recovering some lost ground to end the session down 270.84 points, or 0.33 percent at 81,909.63, extending losses for a third day.

The broader NSE Nifty index ended down 75 points, or 0.30 percent, at 25,157.50, after hitting a low of 24,919.80 earlier.

Markets were able to end off their day's lows following reports that India and the European Union are close to finalizing a long-awaited Free Trade Agreement.

Investors also looked ahead to U.S. President Donald Trump's speech at Davos for direction.

The BSE mid-cap and small-cap indexes fell 1 percent and 0.80 percent, respectively. The market breadth was negative on the BSE, with 2,822 shares falling while 1,447 shares advanced and 136 shares closed unchanged.

Except for metal and oil & gas, all other sectoral indexed closed in the red. Among the prominent decliners, SBI, Larsen & Toubro, HDFC Bank, Axis Bank, BEL, Trent and ICICI Bank dropped 1-2 percent.

SRF shares slumped 6.6 percent after the management said it is facing 'persistent pressure' from Chinese competitors.