Sensex drops 209 points as rupee falls

The BSE Sensex fell for a sixth straight session on Tuesday to mark its longest losing streak since late July, a turbulent period marked by a slump in the rupee, as profit-taking continued after the benchmark index's record high earlier this month.

The Sensex closed down 209.05 points, or 1.02 per cent, at 20,281.91 points, marking its longest losing streak since falling for eight consecutive days from July 24 to August 2. The broader Nifty ended 60.75 points, or one per cent, lower at 6,018.05 points.

Lenders such as ICICI Bank fell on caution ahead of consumer prices data due later in the day, amid fears that accelerating inflation would lead the central bank to raise interest rates for a third time this year. ICICI Bank fell 2.4 per cent, while Axis Bank closed 2.7 per cent lower, ahead of the consumer price inflation data.