Indian equity market extended its fall for second straight on the first day of the week, led by losses in oil & gas, metals and banks ahead of February series expiry and Union Budget this week. Nifty falls below its crucial level of 8,800 and ended the day at 8,754.95, plunged 78.65 points, while Sensex ended the day at 28,975.11 down by 256.30 points.

Meanwhile, the Budget session of the Indian government started today with the President Pranab Mukherjee addressing both the houses of the Parliament.

President Pranab Mukherjee said that inclusive growth was the government’s top priority and it was committed to expand the job market.

Shares of Jindal Steel Power and DLF fell after the National Stock Exchange decided to exclude both stocks from CNX Nifty 50. The exchange, however, will add telecom operator Idea Cellular and private sector lender YES Bank in the Nifty at the end of next month.

The rupee weakened by 6 paise to 62.2850 against the US dollar in the trade.

Among the sectorial indices of NSE all the major indices ended in negative zone. CNX Media was the wrost performer of the day by plunging -2.16% followed by CNX PSU Bank (-1.78%) and CNX Realty (-1.66%).

Out of the 50 stocks of Nifty 9 stocks ended in green while other 41 ended in red.

Top 5 Nifty Gainers: Powergrid (1.79%), Kotak Bank (1.37%), M&M (1.04%), TCS (0.91%) and Sesa Sterlite (0.64%).

Top 5 Nifty Losers: ZEEL (-4.47%), NMDC (-3.79%), Jindal Steel (-3.37%), DLF (-3.27%) and Reliance (-2.86%).

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