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Sensex extends losses for third straight session, falls 169 points to end at near two-month low of 37,121.22

Sulekha Nair
Benchmark Sensex extended losses for the third straight session on Wednesday, falling 169 points to end at a near two-month low of 37,121.22 as cautious investors pared their portfolios, ignoring positive global cues and recovery in rupee.

Mumbai: Benchmark Sensex extended losses for the third straight session on Wednesday, falling 169 points to end at a near two-month low of 37,121.22 as cautious investors pared their portfolios, ignoring positive global cues and recovery in rupee.

Stocks saw a positive start as the Sensex touched a high of 37,530.63 intra-day in tune with the rupee recovering from its record low.

However, the index turned weak in late-afternoon trade and closed lower by 169.45 points, or 0.45 percent, at 37,121.22. This is its lowest closing since July 26 when it had finished at 36,984.64.

The 30-scrip gauge had lost about 800 points in the previous two sessions, largely dragged down by rupee woes, unabated foreign fund outflows and escalating trade tensions between the US and China.

The NSE Nifty closed lower by 44.55 points, or 0.39 percent, at 11,234.35. Intra-day, it shuttled between 11,332.05 and 11,210.90.

The rupee appreciated 49 paise intra-day against the dollar to 72.49.

Overall sentiment remained cautious amid the US-China trade conflict and surging crude oil prices, brokers said.

There were no signs of change in trading preference of foreign portfolio investors who net sold shares worth Rs 1,143.73 crore on Tuesday. Domestic institutional investors (DIIs) picked up equities worth a net Rs 264.66 crore, according to provisional data.

Also See: Sensex plunges 295 points, Nifty ends below 11,300-mark as US-China trade war intensifies; rupee woes worsen

Sensex drifts lower by 166 points to 38,077, Nifty slips below 11,500-level in early trade in line with Asian markets

Sensex builds on gains for second day, up 147 points to 38,389.92 as rupee recovers; auto shares lead rally

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