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​India: equities fall for fourth straight session

On Wednesday, August 3, Indian stocks sustained losses for the fourth session in a row.

By the final bell the Nifty 50 slipped 0.91% to 8,544.85, while the BSE Sensex 30 Index retreated 1.02% to 27,697.51.

Wednesday’s gainers were HCL Tech. (+3.17%), Cipla (+2.23%) and Bharti Infratel Ltd. (+2.12%).

The list of decliners was topped by Bharat Elec. (-3.86%), Tata Motors (-3.02%) and Maruti Suzuki (-2.25%).

In the bull camp, Power Grid chalked up the biggest daily loss over the past two weeks.

Tobacco producer ITC, in turn, saw its shares plunging to a 4-week low.

Housing Development Finance stocks traded down for the fourth consecutive session.

In the currency market, the USD/INR pair firmed 0.45% to 66.993, while EUR/INR edged up 0.23% to 75.0170.

Technically, the daily chart shows that the BSE Sensex 30 Index is still trading higher. In addition, stochastic lines are exiting overbought territory, so corrective movement is likely.