Sensex sheds 550 points. Nifty trades below 17600

Indian markets trade lower for a fourth consecutive day. Sensex already lost nearly 480 points, while Nifty sheds 150 points. Sensex slips from 59000. Nifty trades below 17600.

Nifty PSU Bank index and Nifty Consumer durables index lost more than 2% each. Nifty Metal, Nifty Realty, Nifty Bank, Nifty Media, Nifty Pharma, Nifty Oil & Gas, nifty Financial Services, and Nifty IT are trading with more than 1% fall. Except for FMCG, all sectoral indices are in red. 

HUL tops Nifty with 2.18% gains, followed by Bajaj Auto, Tata Consumer, and Hero Motocorp with more than 1% gains. Bajaj Finserv is the top loser in Nifty, followed by Coal India, Tech Mahindra, Shree Cements, and Adani Ports with more than 2.5% fall. Most of the losing stocks are down with more than 1%. This clearly shows the selling pressure prevalent in the markets. Out of 50 stocks on Nifty, only 13 stocks are in green. 

Index heavyweight Reliance industries will declare Q3 results after market hours.