Continuing its fall for the seventh straight session, the benchmark Sensex fell by 87.51 points on Wednesday to 20,194.40. Stock markets came under pressure due to the fear that Reserve Bank of India (RBI) would increase rates as the retail inflation rose to double digits. Sensex closed at the lowest level since October 8 when it ended at 19,983.61.
The broader index Nifty also fell by 28.45 points to 5,989.60 as institutes continued with profit booking in real estate, FMCG and information technology shares. Of the 13 indices on BSE, 9 indices closed under pressure. Real estate index fell the most by 1.14 per cent followed by FMCG and information technology indices which closed 0.98 per cent and 0.65 per cent down respectively.
The index has lost 1,044.96 points in the past seven sessions, its longest losing streak since the eight days ended August 2, when it declined 1,138.11 points. The 50-share CNX Nifty on the National Stock Exchange declined 28.45 points, or 0.47 per cent, to end at 5,989.60. The SX40 index on the MCX Stock Exchange fell 84.36 points to end at 12,002.12.
While markets continued trading under pressure, foreign institutional investors invested a net of Rs 299.7 crore, as per provisional data provided by the stock exchanges. On the other hand, rupee snapped its five day fall after it gained 41 paise and closed at Rs 63.30 per dollar.