IMF forecast adds to market gloom, Sensex drops 135 pts; Nifty below 11,300

Equity benchmarks racked up losses for the fifth straight session on Wednesday as risk sentiment remained fragile after IMF slashed India's growth outlook. The 30-share BSE Sensex tumbled 135.09 points or 0.36 per cent to close at an over two-month low of 37,847.65. Similarly, the broader NSE Nifty dropped 59.75 points or 0.53 per cent to 11,271.30. This has been the longest losing streak for the indices since early May. The Sensex has now lost 1,049.81 points, or 2.69 per cent, in five sessions, while the Nifty has shed 325.60 points or 2.80 per cent.