Mumbai: Indian equity benchmarks declined for the second straight session on Thursday as financial stocks came under pressure amid the rupee collapsing to a new record low against the US dollar and concerns over surging crude oil prices.
Investors also appeared cautious in view of expiry of August futures and options (F&O) and also due to mixed cues from global markets.
Investors offloaded their long bets in F&O segment instead of carrying them forward to the next series for September, brokers said.
The Indian rupee plunged to a new life-time low of 70.85 against the dollar (intra-day) on Thursday.
Investors shifted their focus to the June-quarter GDP data to be announced on Friday.
Also, investor sentiments were hit after global oil prices went past USD 77 a barrel on a fall in US crude inventories and expected disruptions to supply from Iran and Venezuela.
In spite of a higher opening, the 30-share Sensex settled lower by 32.83 points, or 0.08 percent, at 38,690.10. Intra-day, it shuttled between 38,819.06 and 38,581.83.
The gauge retreated from a life-time high of 38,989.65, falling 173.70 points in the previous session.
The broader NSE Nifty, after showing volatile movements, finally ended 15.10 points, or 0.13 percent, lower at 11,676.80. Intra-day, it moved between 11,698.80 and 11,639.70.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 1,415.87 crore on a net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,114.36 crore on Wednesday, provisional data showed.
Updated Date: Aug 30, 2018 17:18 PM