Indian equity benchmarks extended their losing streak for a second consecutive session on June 8, pressured by escalating tensions in West Asia, surging crude oil prices, weak global cues and sustained foreign fund outflows.


The market opened sharply lower, tracking weakness in global equities, with the Nifty slipping below the 23,100 mark in early trade. Although the benchmarks attempted a recovery during the session, which was short-lived as intense selling pressure in the final hour erased intraday gains with benchmarks eventually settled near the day's lows.

At close, the Sensex was down 719.08 points or 0.97 percent at 73,524.26, and the Nifty was down 243.70 points or 1.04 percent at 23,123.

The Indian rupee witnessed a sharp fall on June 8, settling 77 paise lower at 95.71 per US dollar, compared with its previous close of 94.94.

The broader market underperformed the benchmarks, with the Nifty Midcap 100 index declining 1.4%, while the Nifty Smallcap 100 index shed 1.9%.

Among the Nifty constituents, Wipro, Jio Financial Services, Eternal, Hindalco Industries and Shriram Finance emerged as the top losers. On the other hand, Max Healthcare, Power Grid Corporation, Bharat Electronics, Tech Mahindra and Nestlé India bucked the trend to finish in the green.

Sectorally, all indices ended in negative territory. The Realty and Metal indices were the worst performers, declining more than 2% each. Selling pressure was also visible across Auto, Consumer Durables, IT, Media, Infrastructure, Power, Energy and Oil & Gas sectors, all of which fell over 1% during the session.

More than 140 stocks touched their 52-week high on the BSE, including Aster DM Health, Adani Energy, Krishna Institute of Medical Sciences, ACME Solar, Federal Bank, JK Bank, Sai Life Science, Laurus Labs, Ather Energy, among others. 

On the other hand, more than 100 stocks touched their 52-week low on the BSE, Wipro, Swiggy, Rail Vikas Nigam, TCS, SBI Cards, Reliance Industries, EID Parry, Blue Dart, Dalmia Bharat, eClerx Services, GlaxoSmithKline, Emami, , among others.

Among individual stocks, Sigma Advanced Systems declined 4% despite securing an export contract worth ?208 crore, while Manba Finance slipped 2% even after announcing strategic partnerships with AMU Leasing and BRMP Leasing & Finance.

On the gaining side, Creative Newtech surged 14% after receiving an advance work order from BSNL. Alembic Pharmaceuticals rose 1% after announcing plans to acquire a 45% stake in a newly incorporated Canadian corporation.