Indian shares end lower for 2nd day as rupee slide continues

September 05, 2018 / in.investing.com / Article Link

Sept 4 (Reuters) - Indian shares ended lower for a second straight session on Tuesday, dragged down by banks and consumer stocks, as the rupee extended declines to a record low and oil prices rose sharply.

The Indian rupee INR=D2 , which tumbled to a record low of 71.54 on the dollar on Tuesday, is Asia's worst performing currency so far this year due to higher oil prices, turbulence in emerging markets and simmering global trade tensions. broader NSE index .NSEI fell 0.54 percent to 11,520.30, while the BSE index .BSESN ended 0.4 percent lower at 38,157.92.

HDFC Bank Ltd HDBK.NS and State Bank of India SBI.NS fell 1.1 percent and 3.3 percent, respectively, while consumer goods stock Hindustan Unilever Ltd HLL.NS dropped 2.8 percent to its lowest close since July 19.

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