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Indian Shares Extend Losses To 2nd Straight Day

Indian stocks ended lower on Monday, extending losses to a second straight session, amid concerns about global growth and anxiety ahead of the next round of high level U.S.-China trade talks.

Also, with some crucial economic data due during the course of this week, investors stayed wary of picking up stocks.

Activity was largely stock specific with quarterly earnings reports and other corporate news setting the trend.

The benchmark BSE Sensex ended down 151.45 points, or 0.41%, at 36,395.03, the lowest close in nearly two weeks.

The National Stock Exchange's Nifty50 ended down 54.80 points, or 0.5%, at 10,888.80, its lowest close since 31 January 2019.

On Friday, the Sensex tumbled 424.61 points, or 1.15%, while the broader Nifty plunged 125.80 points, or 1.14%.

Automobile, capital goods, healthcare and oil stocks declined. Shares from realty and consumer discretionary sectors too ended mostly lower.

Information technology, metal, bank and FMCG stocks ended on a mixed note.

Tata Steel rose 2.3% after reporting a 54.33% increase in consolidated net profit for the quarter ended December 2018.

Mahindra & Mahindra ended more than 5% down. ONGC shed about 3.1%. Dr Reddy's Laboratories ended 5.5% down after the company said that its formulations manufacturing plant in Hyderabad received a Form 483 with 11 observations from the USFDA.

Bharat Petroleum Corporation shares ended 1% down after the company reported a 76.9% decline in net profit at Rs 495.14 crore for the quarter ended December 2018, compared to the corresponding quarter in 2017-18.

Reliance Industries ended sharply lower. The company announced that its subsidiary Reliance Brands has acquired a further stake of 2.5% in Future101 Design last Thursday.

The market breadth was very weak. On BSE, as many as 1,747 stocks declined. 801 stocks recorded gains and 164 stocks ended flat.

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