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Sensex closes nearly 1% lower amid concerns about rising crude prices
Photo Credit: Reuters

Indian shares reversed course to end lower in the final hour of trade on Monday, tracking global cues, with the Indian rupee hitting a record low and crude prices on the climb.

The broader NSE Nifty ended 0.8 percent lower at 11,582.35, while the benchmark BSE Sensex closed down 0.9 percent at 38,312.52.

The possibility of crude breaking higher and a weakening currency pose a risk in terms of inflation, said Sunil Sharma, chief investment officer with Sanctum Wealth Management, adding that there was some selling by foreign institutional investors.

Shares of consumer giants Hindustan Unilever Ltd and ITC Ltd, the top drags on the NSE Index, closed down 4.6 percent and 2.1 percent, respectively.

Indian shares reversed course to end lower in the final hour of trade on Monday, tracking global cues, with the Indian rupee hitting a record low and crude prices on the climb.

The broader NSE Nifty ended 0.8 percent lower at 11,582.35, while the benchmark BSE Sensex closed down 0.9 percent at 38,312.52.

The possibility of crude breaking higher and a weakening currency pose a risk in terms of inflation, said Sunil Sharma, chief investment officer with Sanctum Wealth Management, adding that there was some selling by foreign institutional investors.

Shares of consumer giants Hindustan Unilever Ltd and ITC Ltd, the top drags on the NSE Index, closed down 4.6 percent and 2.1 percent, respectively.

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