market lookout: Persistent selling pressure has seen the markets lose further ground...

The benchmark indices spent most of the first part of today’s trading session almost flat. However, the indices steadily slipped into the red thereafter, on the back of selling in the index heavyweights. The Sensex closed lower by around 170 points, while the Nifty closed lower by 40 points. Stocks from the mid-cap and small-cap indices also ended in the negative territory. Stocks from the FMCG and consumer durable sectors led the pack of gainers on the bourses today. Rupee closed at 47.86 against the US dollar. While Asian markets closed mixed, the European indices are currently trading in the red.