September 10, 2018 / 7:01 AM / 2 months ago

Sensex, Nifty fall over one percent to near four-week closing low

A broker monitors share prices at a brokerage firm in Mumbai August 9, 2011. REUTERS/Danish Siddiqui/File Photo

(Reuters) - Indian shares fell over 1 percent on Monday to their lowest close in nearly four weeks, as fears of an escalating U.S.-China trade war and a sinking rupee dampened investor sentiment.

The broader Nifty closed 1.3 percent lower at 11,438.10, while the BSE Sensex ended down 1.2 percent at 37,922.17. Both indexes marked their worst closing levels since Aug. 16.

The rupee touched a life-low of 72.6750 to the dollar, forcing the government to consider measures to soften the fall. It has declined nearly 15 percent against the dollar this year.

Financials and energy stocks were the biggest losers with Housing Development Finance Corp Ltd down 1.9 percent, while Reliance Industries finished 1.8 percent lower.

Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu

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