Sensex dips 224 points on US-induced Turkey currency woes

Mumbai: Equity benchmarks Sensex and Nifty tumbled for the second straight session on Monday as the Indian rupee hit life-time lows and the Turkish currency crisis dealt a blow to investors sentiment globally.

The BSE Sensex sank 224.33 points to end near two-week low of 37,644.90, while the Nifty crack below the 11,400-mark, losing 73.75 points to end at 11,355.75 on fresh foreign fund inflows.

A massive selling pressure was seen in banks, financials and PSU shares as the rupee nosedived to all-time low of 69.85 (intra-day) per dollar amid fresh fall in the Turkish lira, fuelling demand for safe havens.

The State Bank of India (SBI) was the biggest loser in the Sensex pack, diving 3.17 per cent after the lender reported a hefty loss of INR 4,876 crore for the June quarter.

Asian shares too tumbled and Europe opened lower after sell-offs on Wall Street last week. Investor sentiment took a hit following a slump in the Turkish currency lira on geopolitical developments, spreading panic globally, brokers

said.