MUMBAI: India’s stock benchmarks fell for a fourth consecutive session on Wednesday, their longest losing streak since mid-July, as concerns over the impact of US visa curbs continued to weigh.
The Nifty 50 lost 0.45% to 25,056.90 while the BSE Sensex shed 0.47% to 81,715.63. The 50-stock index has lost 1.4% over four sessions, while the Sensex is down 1.6%.
Fifteen of the 16 major sectors fell on the day while the broader smallcaps and midcaps lost 0.7% and 1%, respectively.
The information technology index fell 0.7%, taking its losses to 4.3% since the US imposed a $100,000 fee for new H-1B visa applications on Sunday. The market value of the 10 companies on the sub-index has dropped 1.2 trillion rupees ($13.5 billion) this week.
The IT sector, which is reliant on the US for a large chunk of its revenue, sends workers onshore to work on client projects.
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