Indian Equities Extend Losses Amid Foreign Outflows, Weaker Rupee

MT Newswires Live12-16

Indian equities extended losses on Tuesday, dragged down by ongoing foreign portfolio selling, a weaker rupee and lingering uncertainty over a potential trade deal with the U.S.

At close, the BSE Sensex fell 533.50 points, or 0.6%, to 84,679.86, while the NSE Nifty 50 declined 167.20 points, or also 0.6%, to 25,860.10.

In economic news, the growth in India's private sector slowed in December, with both new orders and business activity expanding at their weakest pace since February. The HSBC Flash India Composite Output Index slipped to 58.9 from 59.7 in November, according to HSBC Flash PMI data.

In corporate news, shares of Seamec (NSE:SEAMECLTD, BOM:526807) dropped over 4% at close after its vessel "Seamec III" completed its charter with A.D. Engineees and Contractors.

Shares of Belrise Industries (NSE:BELRISE, BOM:544405) dropped over 2% on close after it incorporated a step-down unit named Belrise SDM in France. The new entity will be engaged in activities related to engineering, mechanical, optical, electrical, and electronic technologies, software, and other technologies necessary for defense, space, aerospace, and related industries.

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