Markets extend losses for 5th straight session, Sensex tanks 1,145 points; Nifty drops below 14,700

New Delhi: Markets extended losses for the fifth straight session on Monday with both equity indices falling over 2 percent amid negative cues from global markets.

The 30-share BSE index ended 1,145.44 points or 2.25 per cent lower at 49,744.32. The broader NSE Nifty sank 306.05 points or 2.04 per cent to finish at 14,675.70.

Major losers in the Sensex pack were DrReddy's, M&M, Tech Mahindra, IndusInd Bank, Axis Bank, TCS, LT, RIL, Maruti, HCL Tech, Powergrid and HDFC, falling upto 4.77 percent. On the other hand major gainers were ONGC, HDFC, and Kotak Bank, rising upto 1.14 percent.

In the previous session, Sensex ended 434.93 points or 0.85 per cent lower at 50,889.76, and Nifty gave up the 15,000 level, dropping 137.20 points or 0.91 per cent to 14,981.75.

The rupee gained 16 paise to settle at 72.49 (provisional) against the US dollar. At the interbank forex market, the local unit opened at 72.58 against the greenback and witnessed an intra-day high of 72.29 and a low of 72.58.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended on a negative note, while Tokyo traded with gains.

Stock exchanges in Europe were also trading in the red in mid-session deals. Meanwhile, the global oil benchmark Brent crude was trading 0.66 per cent higher at USD 62.55 per barrel.