The benchmark indices settled lower on Thursday led by a fall in the financial stocks after the rupee
hit a record low of 70.32 per dollar.
The S&P BSE Sensex
ended at 37,664, down 188 points while the broader Nifty50 index settled at 11,385, down 50 points.
HDFC, HDFC Bank, Vedanta, Tata Steel and Reliance Industries (RIL) were among the major losers in the S&P BSE Sensex.
Among sectoral indices, the Nifty
Metal index was among top loser of the day, falling 2.27 per cent due to fall in Jindal Steel & Power and Steel Authority of India. The Nifty
Bank index also ended lower, slipping 0.70 per cent lower weighed by Bank of Baroda and Yes Bank.
Rupee hits new low
on Thursday slumped 43 paise against the dollar to trade at a life-time low of 70.32 on strong demand for the US currency.
Investor sentiment got affected by a widening trade deficit on the domestic front and the broad rise in the US dollar versus other Asian peers.
Asian shares pulled away from one-year lows on Thursday, after Beijing said it will hold trade talks with Washington this month, although Turkey’s currency crisis and fears of an economic slowdown in China
kept most markets
in the red.
MSCI’s broadest index of Asia-Pacific shares outside Japan stood down 0.3 per cent, after shedding as much as 1.1 per cent to hit its lowest since Aug. 11, 2017, while Japan's Nikkei swung into positive territory, up 0.2 per cent on the day.
on Thursday said a delegation led by its vice commerce minister would travel to the United States for talks in late August at the invitation of Washington.
That helped Chinese stocks pare losses, with the Shanghai Composite Index and Hong Kong's Hang Seng index both down 0.4 per cent, having earlier fallen as much as 1.9 per cent and 1.7 per cent, respectively.
(with wire inputs)