Benchmark indices extended losses in afternoon trade with the Nifty breaching 8350 ahead of inauguration speech of Donald Trump as US president later today, dragged by banks, technology and infra stocks.
The 30-share BSE Sensex was down 274.25 points or 1 percent at 27034.35 and the 50-share NSE Nifty plunged 84.35 points or 1 percent to 8350.75. The market breadth was negative as about two shares declined for every share rising on the BSE.
Axis Bank crashed nearly 7 percent after disappointing earnings in Q3, followed by ICICI Bank, L&T, Infosys, Adani Ports, SBI, Tata Motors and ONGC with 1-2 percent loss.
Adani Power was biggest midcap loser, down 11 percent after reporting huge loss of Rs 325.3 crore on weak operational performance and higher finance cost.
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