Indian benchmark indices extended their losses for the second consecutive session on August 27, as buying in consumer durables and pharma stocks was offset by selling across media, metals, oil & gas and PSU banks. The market failed to sustain its opening gains and remained largely in negative territory through the session.

The Nifty closed at 24,090.85, down 116.90 points or 0.48%, while the Sensex declined 539.35 points or 0.70% to 76,933.59.

The broader market outperformed the benchmark indices, with Nifty midcap and smallcap indices ended with marginal losses.

Hindalco Industries, HDFC Bank, M&M, HCL Technologies, Shriram Finance were among top losers on the Nifty, while gainers are Kotak Mahindra Bank, Adani Enterprises, Bharat Electronics, Cipla and Adani Ports.

Among sectors, Consumer Durables and Pharma up nearly 1% each, while media, metal, oil & gas, PSU Bank, auto, FMCG down 0.4-0.9%.

More than 140 stocks touched 52-week high including Welspun Corp, HFCL, Solar Industries, Jindal Saw, Anthem Biosciences, Aether Industries, Laurus Labs, Glenmark Pharma, Divis Labs, GlaxoSmithKline Pharmaceuticals, JSW Steel, among others.

Among individual stocks, ICICI Prudential Asset Management Company shares slipped 4% after 9.92 million shares traded in a block deal. Shares of Adani Energy Solutions advanced 2% after Morgan Stanley maintained an ‘Overweight’ rating with a target price of Rs 1,943. Bombay Burmah Trading Corporation gained 11% after the Supreme Court relief, while Juniper Green Energy declined 7% despite reporting strong Q1 earnings. Skipper rose 2% after securing fresh orders worth Rs 1,305 crore for several domestic and international transmission and distribution projects.

Indian rupee ended 13 paise lower at Rs 95.54 per dollar on Thursday, compared with Tuesday’s close of Rs 95.41.