Sensex reverses gains to end 170 points lower on weak rupee

India`s key equity indices reversed the day`s gains to end lower, as the domestic currency touched a new low against the US dollar. The S&P BSE Sensex lost over 170 points. The National Stock Exchange`s Nifty slid, but clung on to the psychologically-important 11,300-point mark.

Heavy selling was witnesssed in almost all the sectors, led by consumer durables, auto and FMCG stocks. The Indian rupee slipped to a new low of 74.27 to a US dollar during the mid-afternoon session on Tuesday. At the Inter-Bank Foreign Exchange Market, it had opened at 73.85, from its previous close of 74.07.

At 3.30 p.m., the Nifty50 provisionally closed at 10,301.05, down 47.00 points or 0.45 per cent. The benchmark Sensex, which had opened at 34,651.82, settled at 34,299.47, down 174.91 points or 0.51 per cent from the previous close.

The Sensex touched an intra-day high of 34,711.68 points and a low of 34,233.50.