The BSE Sensex ended lower 294.84 points down at 37,290.67, on Tuesday while the Nifty 50 ended 98.85 points lower at 11,278.90. The benchmark indices extended losses for the second session on Tuesday dragged mainly by PSU bank stocks.
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The Nifty PSU Bank Index fell over 5.44% after shares of Bank of Baroda fell 17% on the government’s proposal to merge the bank with Dena Bank and Vijaya Bank. The rupee also fell further today and traded near the 72.8 mark. However, global markets shrugged off trade war concerns after the US set its next round of tariffs at 10% and Beijing pledged to retaliate.