New Delhi, Aug. 29 -- The Indian stock market extended its losses for the second consecutive month in August, with the Nifty 50 falling 1.4% and the Sensex losing 1.7%, as fears mounted that higher tariffs could impact the economy after the US doubled duties on Indian goods to as high as 50%, the second highest among America's trading partners.

The move has also dented overseas investor sentiment. Foreign investors, already cautious amid weak earnings visibility and lofty valuations, have accelerated their selling spree, pulling out another Rs.38,590 crore from Indian exchanges so far in August.

In the week gone by, the Nifty 50 lost 1.78% to 24, 426 and the Sensex 1.84% to 79,806, marking their worst weekly drop in the last five months...