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Market starts week on a weak note, Rupee hits record low
Photo Credit: Reuters

Indian shares extended losses and the rupee fell to an all-time low on Monday, after broader Asian stocks declined on investor worries that a tightening COVID lockdown in Shanghai could hit global economic growth.

Nifty was down 1.45% at 16,172.50, with all its major sub-indices in the negative territory, while the Sensex fell 1.48% to 54,026.20.

The rupee tumbled to an all-time low of 77.42 against the dollar on Monday.

Nifty's public-sector bank, metal and energy sub-indices were among the top losers, declining more than 2% each.

The benchmark indices Friday posted their worst week since November, declining for a fourth straight session, weighed down by a surprise interest rate hike by the Reserve Bank of India (RBI), foreign fund outflows and mixed corporate earnings.

Asian markets were lower on Monday as US stock futures fell on fears of more policy tightening from the Federal Reserve and strict lockdown in Shanghai impacting global growth.

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