New Delhi, Jan. 28 -- The Indian stock market benchmarks- the Sensex and the Nifty 50- extended gains for the second consecutive session on Wednesday, January 28, as the India-EU free trade agreement influenced sentiment. However, the trade deal, being hailed as the "mother of all trade deals", has failed to trigger a sharp trend reversal in the domestic market.

Equity benchmark Sensex jumped over 600 points, or nearly 0.80%, in morning deals on Wednesday but soon pared most of its gains to drift to an intraday low of 81,887.93, just 30 points above its previous close of 81,857.48. Similarly, the NSE counterpart, the Nifty 50, also rose by 0.80% in the morning session but soon slipped to an intraday low of 25,225.70, just 0.20% above its...