Mumbai: The key Indian equity indices traded on a negative note on Monday afternoon owing to weak rupee and negative global cues, with the benchmark Sensex losing nearly 400 point so far.
Both the S&P BSE Sensex and the NSE Nifty50 fell around one per cent so far.
The Indian rupee touched a new low of 72.67 on Monday, depreciating by almost a rupee from its previous close of 71.73 per US dollar, which dampened the domestic investor sentiment.
Globally, markets sentiments were subdued on concerns that the US might impose further tarrifs on Chinese imports.
Among the sectoral indices, heavy selling activity was witnessed in banking, auto and oil and gas counters.
Around 1.21 p.m., the wider Nifty50 on the National Stock Exchange traded 11,469.35 points, lower by 119.75 points or 1.03 per cent from the previous close.
The BSE Sensex, which had opened 38,348.39 points, traded at 38,003.89 points, lower by 385.93 points or 1.01 per cent from the previous close of 38,389.82 points.
It has touched a high of 38,354.52 points and a low of 37,967.08 points so far.