Markets extended losses amid profit taking as lack of buying interest by institutional investors dragged the BSE benchmark index below 26,000. Weakness in RIL, ICICI Bank, Tata Motors and ONGC weighed on the indices heavily.
For the day, the Sensex was down 136 points at 25,991 and the Nifty gave off 42 points to trade at 7,749.
The Indian rupee closed at 60.1250/1350 compared to its previous close 60.1025/1125. Meanwhile, month-end demand for dollars from crude oil importers is likely to keep the pressure on the Indian currency. The rupee has remained supported as foreign portfolio investors have invested $5.18 billion in local shares and debt so far in July.
The markets will remain closed for trading on Tuesday, July 29, on account of Ramzan ID.
