Sensex logs 5th straight day loss as rupee woes continue

The equity benchmark Sensex extended its fall for a fifth straight session Tuesday, making it the longest losing spree in over three months as concerns persist on multiple fronts in the form of rising crude prices, tumbling rupee and ongoing global trade tiff.

The 30-share BSE index also logged its weakest closing in over two weeks by falling 155 points to 38,157.92, following a widespread selling mainly in sectors like consumer durables, financials and banks.

The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.

Investors remained concerned over sustained foreign fund outflows and widening current account deficit as a result of soaring crude oil prices, leading to a continuous fall in the domestic currency.

Meanwhile, the Indian rupee crashed to a fresh record low of 71.57 against the US dollar in intra-day movement, weighing on investors sentiment.

Besides, the ongoing trade war rhetorics between the two largest economies, the US and China, further hit market sentiments globally.

"Continued weakness in currency and surge in oil price dragged the indices to a consolidation. Additionally, concerns on widening deficit and inflation trajectory led domestic bond yield to break 8 per cent mark. Weak global market on account of trade tensions further steered the investor's sentiment," Vinod Nair, Head of Research, Geojit Financial Services Ltd, said.

Domestic bourses saw a hectic selling in almost all sectors -- consumer durables, PSUs, infrastructure, realty, FMCG, telecom, utilities, power, metal, auto, healthcare, banking, oil and gas, capital goods and finance.