Mumbai, Jan. 14 -- The Benchmark indices, Sensex and Nifty 50, extended losses for the second consecutive session on Wednesday.

At close, the Sensex dropped 245 points, or 0.29%, to end at 83,382.71, while the Nifty 50 fell 67 points, or 0.26%, to settle at 25,665.60.

Most sectoral indices ended lower; however, the Nifty Metal (2.70%) and PSU Bank (2.13%) posted solid gains.

The market opened in the red, extending selling pressure from the previous trading session amid continued concerns over new 25 per cent US tariffs on countries engaged in trade with Iran..

Shrikant Chouhan, Head Equity Research, Kotak Securities, said, "The benchmark indices witnessed range-bound activity. The Nifty ended 67 points lower, while the Sensex was down...