Market extends losses as India-Pak tension escalates

Surjit kumar Dhal,  Mumbai, Feb 28: The benchmark BSE Sensex surrendered early gains Wednesday to end in the negative terrain by shedding 68 points on escalating tensions between India and Pakistan.

                 Investor sentiment took a beating after Pakistani fighter jets on Wednesday violated Indian air space in Jammu and Kashmir’s Poonch and Nowshera sectors, brokers said.

                 After rising nearly 400 points in early trade, the Sensex turned negative triggered by across-the-market selling by participants. The index finally settled 68.28 points, or 0.19 per cent, lower at 35,905.43.  The gauge had lost 239.67 points Tuesday.

                 The 50-share Nifty also fell 28.65 points, or 0.26 per cent, to 10,806.65. Intra-day, it moved between 10,939.70 and 10,751.20.

                 The rupee depreciated 25 paise to 71.32 after touching a low of 71.49 against the dollar (intra-day), also hitting trading sentiments.