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Indian shares fell sharply on Thursday to extend losses from the previous session as worries about U.S. fiscal position spurred a broad risk aversion in global financial markets<\/span>.<\/p>\n Rising U.S. Treasury yields and a stronger dollar also weighed on markets as signs of resilience in the U.S. labor market revived Fed rate hike bets.<\/p>\n The rupee hit a fresh 10-week low today amid a global sell-off spurred by Fitch’s downgrade of U.S. credit rating. <\/p>\n Investors, meanwhile, shrugged off the results of a survey by S&P Global showing that India’s service sector activity expanded at the fastest pace in just over thirteen years amid a substantial improvement in demand conditions.<\/p>\n The benchmark S&P\/BSE Sensex fell 542.10 points, or 0.82 percent, to 65,240.68, with losses seen across the board. <\/p>\n The broader NSE Nifty index dropped 144.90 points, or 0.74 percent, to 19,381.65 despite Morgan Stanley upgrading its rating on Indian equities to “overweight” from “equal weight.”<\/p>\n Nestle India, ICICI Bank, Bajaj FinServ, ONGC and Titan Company all fell around 2 percent in the Nifty pack while Adani Group stocks such as Adani Enterprises and Adani Ports ended up more than 2 percent each. <\/p>\n<\/p>\n<\/div>\n