September 4, 2018 / 7:14 AM / 7 months ago

Sensex ends lower for second day as rupee slide continues

A man walks past a screen displaying the new logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, August 16, 2018.REUTERS/Francis Mascarenhas

(Reuters) - Indian shares ended lower for a second straight session on Tuesday, dragged down by banks and consumer stocks, as the rupee extended declines to a record low and oil prices rose sharply.

The rupee, which tumbled to a record low of 71.54 on the dollar on Tuesday, is Asia’s worst performing currency so far this year due to higher oil prices, turbulence in emerging markets and simmering global trade tensions.

The broader Nifty fell 0.54 percent to 11,520.30, while the Sensex ended 0.4 percent lower at 38,157.92.

HDFC Bank Ltd and State Bank of India fell 1.1 percent and 3.3 percent, respectively, while consumer goods stock Hindustan Unilever Ltd dropped 2.8 percent to its lowest close since July 19.

Reporting by Chris Thomas in Bengaluru; Editing by Amrutha Gayathri

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