Sensex loses nearly 1,000 points in two days as rupee hits new low

Sensex loses nearly 1,000 points in two days as rupee hits new low
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NEW DELHI: In a major setback, equity markets on Tuesday witnessed a bloodbath for the second successive day, dragged by weak cues on both global and domestic fronts.
The 30-share BSE Sensex lost 509.04 points to close at 37,413.13. Having shed 464 points on Monday, the gauge has now lost close to 1,000 points in just two sessions. The broader 50-share NSE Nifty closed at 11,287.50, down 150.60 points. Both the indices lost to the tune of 1.30 per cent.
The rupee continued to hit investor sentiments, plunging to hit a new record low of 72.73, a drop of 28 paise against the US dollar, in late afternoon trade.
Read full story: Rupee hits another all-time low
Investors were cautious since morning as trade war concerns between the US and China rose and a persistent weakness in the rupee became lingering concerns leading to volatility in the market, brokers said.
“The market will continue to remain under pressure for some time, likely until the end of the week, as it is already over-stretched,” RK Gupta, managing director at Taurus Asset Management told news agency Reuters.
Among sectors, all the sub-indices finished in the red with Nifty FMCG losing more than 2 per cent. All the other sectoral sub-indices closed lost more than a per cent each.