Biggest single-day drop in 3 weeks in share market

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Mumbai: Benchmark share indices extended losses for the fourth straight session registering their biggest single-day drop in 3 weeks amid broad based sell-off with index heavyweight Reliance Industries leading the decline. Further, selling by foreign funds and the widening trade deficit in March also dampened sentiment.The 30-share Sensex ended down 556 points at 27,886 and the 50-share Nifty ended down 158 points at 8,444. Now, investors are also keeping an eye on the Parliament’s second leg of the budget session that began today. Proceedings are being keenly watched for passage of key proposals, especially the Land Acquisition Bill. During the first leg, which ended on 20 March, the government successfully passed the Coal Bill, the Mining Bill and the Insurance Bills; however, it was unable to pass the Land Acquisition Bill through the Rajya Sabha (upper house) and had to reintroduce the ordinance in early April.

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