BSE's (Bombay Stock Exchange) Sensex posted its longest losing streak in nearly six months as rupee dipped to a new all-time low of 71.96 per dollar, erasing all gains from morning trade. The index fell 0.37 percent or 140 points to 38,018 while NSE's Nifty 50 index was down 0.4 percent or 43 points to 11,477.

13 of 19 sector gauges compiled by BSE ended lower led by the Telecom index that was lowered by 2.2 percent. FMCG, consumer durables and capital goods also lost. On the other hand, BSE's metal index was the top gainer with a 1.1 percent increase. The healthcare, auto and power indices also gained.

Midcaps and small-cap shares also fell like its larger peers. The BSE MidCap index closed 0.6 percent lower while and the BSE SmallCap index dropped 0.5 percent.

Meanwhile, the world markets experienced their fourth straight day on the decline from fresh losses in emerging markets that have kept the dollar on its two-week high.