An evening walk down Dalal Street

After snapping a multi-day rally, equity benchmarks continued to fall for second consecutive day on Thursday, with the Nifty giving up 11,250-mark. The Sensex managed to end the day over 350 points lower.

The selloff was led by sectors such as banks, automobiles, IT and energy, while pharmaceuticals stood out with gains of over a percent on the Nifty Pharma index.

Profit booking post Reserve Bank of India’s move to hike key rates along with tepid global cues dragged the market lower. There are reports emerging that the US is considering additional import tariffs on China, which spooked the market around the world.