Sensex falls 174.91 points to 34,299.47, while Nifty settles at 10,301.5

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The Sensex ended 174.91 points lower at 34,299.47, while the Nifty ended 47 points down at 10,301.05 dragged mainly by FMCG and auto stocks.

The rupee plunged to a fresh low of 74.28 against the US dollar, tracking losses in global currencies due to deepening trade tensions between the US and China. The IMF on Tuesday maintained India’s growth forecast for 2018-19 unchanged and called for further tightening of monetary policy.

ALSO READ: Indian cos to buy Iranian oil despite US sanctions, says Oil Minister

Oil prices rose above $84 a barrel as more evidence emerged that crude exports from Iran are declining in the run-up to the re-imposition of US sanction.

The IMF downgraded its global growth forecast for the first time since 2016.

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