Market extends losses, Nifty below 8900, Sensex down 180 pts

Benchmark indices extended losses in late trade, with the Sensex down 176.97 points at 28807.52.

The Nifty broke 8900 level, down 58.70 points at 8887.10, dragged by ITC and banks stocks.

About two shares declined for every share rising on the BSE.

Shares of ICICI Bank gained 2 percent intraday after a media report suggested that global private equity firms are looking to acquire Fairfax's shareholding in general insurance company ICICI Lombard.

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