Mumbai: Indian equity benchmarks declined for the second straight session on Thursday as financial stocks came under pressure amid the rupee collapsing to a new record low against the US dollar and concerns over surging crude oil prices.
Investors also appeared cautious in view of expiry of August futures and options (F&O) and also due to mixed cues from global markets. Investors offloaded their long bets in F&O segment instead of carrying them forward to the next series for September, brokers said. The Indian rupee plunged to a new life-time low of 70.85 against the dollar (intra-day) today.
Investors shifted their focus to the June-quarter GDP data to be announced tomorrow.
Also, investor sentiments were hit after global oil prices went past USD 77 a barrel on a fall in US crude inventories and expected disruptions to supply from Iran and Venezuela. In spite of a higher opening, the 30-share Sensex settled lower by 32.83 points, or 0.08 per cent, at 38,690.10. Intra-day, it shuttled between 38,819.06 and 38,581.83.
The gauge retreated from a life-time high of 38,989.65, falling 173.70 points in the previous session. The broader NSE Nifty, after showing volatile movements, finally ended 15.10 points, or 0.13 per cent, lower at 11,676.80.
Intra-day, it moved between 11,698.80 and 11,639.70. Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 1,415.87 crore on a net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,114.36 crore yesterday, provisional data showed.