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The benchmark indices settled over 1 per cent
lower on Monday taking cues from their global peers, which fell amid reports
that the US was about to announce a new round of tariffs on Chinese imports.The
S&P BSE Sensex ended at 37,586, down 505 points while the broader Nifty50
index settled at 11,378, down 137 points.That apart, a weak rupee also affected
sentiment. The domestic currency slipped to an intra-day low of 72.62 against
the greenback earlier in the day. The domestic unit on Friday had surged
by 34 paise to close at a one-week high of 71.84 against the US dollar on
positive macro data and hopes of policy intervention by the government to
defend the volatile currency.In key stocks, Reliance Industries (RIL) fell over
2.3 per cent, while Sun Pharmaceutical Industries (Sun Pharma) cracked over 2.7
per cent. Financial stocks such as HDFC, HDFC Bank, State Bank of India (SBI)
and Axis Bank fell by up to 2.5 per cent.Among sectoral indices, the Nifty FMCG
index settled 1.4 per cent lower weighed by fall in share prices of Godrej
Industries and Procter & Gamble Hygiene and Health Care.
