Sensex falls as rupee slides, oil jumps; SBI, ICICI Bank stocks down

The Bank Nifty index fell 1.4 per cent, while the Nifty PSU Bank index declined 3.55 per cent, the most since August 10

Stock prices tumbled on Tuesday as investors took money off amid rising macro-economic headwinds. The benchmark Sensex fell for a fifth day, while the broader markets clocked their worst single-day performance in nearly two months. Investors were spooked by the sliding rupee, surging bond yields, and oil prices. The rupee dropped to a record low of 71.56 against the dollar, the 10-year government bond yield ended at 8.06 per cent, and Brent crude prices neared $80 a barrel, a level last seen in May.

The Sensex fell 0.4 per cent to close at 38,157.92 points, while the Nifty declined 0.54 per