Stock markets extend losing streak, selling seen in IT, oil & gas

New Delhi, Sept. 8 -- Indian stock markets extended their losing streak for the second consecutive session with the Nifty hitting a nearly three-month low. Selling pressure was seen in IT, oil & gas and banking stocks.

The Nifty touched a day's low of 23,623.10 before recovering marginally and closing at 23,635.At close, the Sensex was down 555.23 points or 0.73 percent at 75,577.58, and the Nifty was down 144.05 points or 0.61 percent at 23,635.10. Further, the broader market outperformed with Nifty midcap and smallcap indices ended marginally higher.

In terms of sectors, Private Bank index shed 1%, Oil & Gas index down 0.67%, Nifty Bank down 0.5% and IT index shed 0.37%, while Media index added 1.3%, Pharma index rose 0.7% and FMCG inde...