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India's benchmark share indices extended losses to end lower on Tuesday, amid weak global cues, as the rupee weakened further against the dollar raised worries over higher current account deficit and inflationary pressures. Further, the downgrade by global brokerage firm JP Morgan also weighed on investor sentiment.
The 30-share Sensex ended down 75 points at 18,233 after hitting a low of 17,971 and the 50-share Nifty ended down 19 points at 5,396 after touching a low of 5,306.
Global financial firm JP Morgan, in its latest report today, has downgraded India to neutral on rising worries over widening current account deficit.
The report said, "Too much CAD pain". "We know this is reactive rather than proactive. If the Rupee continues to slide then India will continue to underperform," said Adrian Mowat of JP Morgan in his Global Equity Research report.
