Mumbai: Equity benchmarks extended losses in late trade on Thursday, weighed down majorly by banks as June quarter earnings raised asset quality concerns. The market lost all its previous day's gains as the 30-share BSE Sensex was down 205.37 points or 0.74% at 27710.52.
The 50-share NSE Nifty managed to hold its 8500 level, down 55.75 points or 0.65% at 8510.10 while the fall in broader markets was less compared to benchmarks. The BSE Midcap and Smallcap indices were down over 0.1 percent.
HDFC Bank (down 0.3 percent), Kotak Mahindra Bank (down 2.7%) and State Bank of Bikaner & Jaipur (down 2.8 percent) were under pressure on rising non-performing assets in the quarter ended June 2016.
Axis Bank, which is expected to announce Q1 earnings on Friday, fell 3.6% followed by ICICI Bank and SBI with over 2% loss.
L&T Infotech, the subsidiary of engineering and construction major Larsen and Toubro, closed at Rs 697.60, down 1.8 percent compared to issue price of Rs 710 on listing day. The market breadth was negative as about 1588 shares declined against 1099 advancing shares on the Bombay Stock Exchange.
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