Rupee slides further to 72.98; Sensex falls 295 pts

The rupee on Tuesday slid 47 paise to settle at a record low of 72.98 against the US dollar due to surging crude oil prices and escalating trade war worries. The BSE Sensex extended losses for a second session by plummeting 295 points to close at an over one-month low of 37,291.

The Sensex extended losses for the second session in a row on Tuesday, plummeting 295 points to close at an over onemonth low of 37,291. Hectic selling in financial and auto stocks amid escalating USChina trade tariff tensions, and worsening rupee woes were the major triggers.

The broader NSE Nifty fell over 98 points to close below the 11,300-mark. Besides, rising crude oil prices further dampened investors' mood.

The domestic currency slid a further 47 paise to settle at a record low of 72.98 against the dollar.

Globally, sentiments took a hit after US President Donald Trump on Monday announced imposition of tariffs on an additional $200 billion worth of imports from China, escalating the trade war.

Domestic institutional investors sold shares worth ~1.80 billion, while foreign portfolio investors (FPIs) also offloaded shares to the tune of ~1.07 billion on Monday, provisional data showed.

SBI emerged as the biggest loser in the Sensex pack, with its shares plunging 4.06 per cent, while Tata Motors lost 3.36 per cent on nervous selling after unit Jaguar Land Rover said it will cut output at a UK car plant after warnings on the impact of Brexit and diesel policy.