Key benchmark indices fell above 1 percent on Wednesday, losing for 7-straight session, their longest losing streak in over 9-months, after army conducted surgical strike along India-Myanmar border.
The strike comes on the anniversary of India's surgical strike on terror camps in Kashmir last year. A team of Indian Para Commandos continued the attack at and caused damage to NSCN-K insurgents near the Indo-Myanmar border.
The BSE Sensex fell by 439.95 points, at 31,159.81, while the NSE Nifty fell 135.75 points, to 9,735.75. BSE Small cap index was down 2.10% and the midcap index down 1.99%.
PSU banks and pharma stocks fell, while IT stocks ended almost flat. Coal India, TCS and Bharti Infratel were the top gainers, whereas Sun Pharma and Adani Ports lost the most. Realty, metals, PSU Bank, and auto stocks lost shine. The India Volatile Index shot up over 6 percent. Bank Nifty also fell over 1.5%.
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