(With agency inputs)

NEW DELHI: Markets on Monday finished lower for the second straight session with the benchmark BSE Sensex down more than 350 points amid weak show by financial and pharma stocks. Sensex dived 369 points or 1.02 per cent to close at 35,657, while the broader NSE Nifty lost 119 points or 1.10 per cent to settle at 10,662.On the BSE index, Bajaj Finance, Yes Bank, ICICI Bank, IndusInd Bank, Bajaj Auto and Hero MotorCorp witnessed major losses with their stocks losing as much as 5.60 per cent. On NSE, sub-indices Nifty Pharma, Private Bank and Financial Services tracked major losses, down as much as 2.55 per cent.“The issue with Infrastructure Leasing and Financial Service Ltd (IL&FS) is not over, contrary to earlier beliefs and that is why we see housing finance companies in the red today,” said AK Prabhakar, head of research, IDBI Capital - Mumbai.A string of defaults at the major infrastructure financing and building company had triggered sharp falls in the stock and debt markets last year amid fears of contagion within the rest of the country’s financial sector.“There is a wait-and-watch sentiment because of the budget,” said Vinod Nair, head of research, Geojit Financial Services, adding, “Earnings this quarter hasn’t been great so far, and I don’t think we will witness earnings growth of even 7 per cent-8 per cent this year.”Besides weak corporate earnings for the third quarter, brokers said, uncertainties over the high-level trade talks between the US and China impacted the investors' sentiment.Meanwhile, Foreign portfolio investors (FPIs) bought shares worth a net Rs 689.28 crore, and domestic institutional investors (DIIs) sold shares to the tune of Rs 147.35 crore on Friday, as per provisional data released by the stock exchanges.