he BSE benchmark Sensex lost some weight in first half of the trading session. Metals, infra and capital goods stocks were major laggards.
The rupee fell to a one-week low as global risk assets retreated after the European Central Bank indicated willingness to buy government bonds but set conditions that disappointed markets. Barring Shanghai, Asian markets too were bleeding dashing hopes of a bounce back.
The Sensex was down 165.24 points or 0.96% at 17059.12, and theNifty was down 51.45 points or 0.98% at 5176.30. About 902 shares advanced, 1116 shares declined, and 1421 shares remain unchanged.
The monsoon has now turned out to be a major concern for Indian markets. In an interview to CNBC-TV18 DS Pai, Director-Long Range Forecast, India Met Department (IMD) highlighted that rainfall in India is 19% deficient so far because the monsoon didn’t pan out as per expectations in July.