The rupee finished at a fresh record low of 72.69 against the United States dollar on Tuesday, 24 paise below Monday’s close. It opened higher by 15 paise at 72.30 per dollar in the morning, but declined soon after. The currency had closed at 72.45 on Monday.

Meanwhile, the BSE Sensex slumped 509.04 points to 37,413.13. The National Stock Exchange Nifty declined 150.60 points to finish at 11,287.50. It was the steepest fall for both indices since March 16, and the lowest close since August 2, Mint reported.

The factors responsible for the sharp decline in the markets were the US-China trade war, the deteriorating rupee and rising crude oil prices. The shares of HDFC Bank, the country’s largest private sector lender, fell as much as 2.36% to Rs 1,993. This was its biggest decline in over three months.

Coal India was the top gainer on both indices. Other stocks which performed well on both the Sensex and Nifty were National Thermal Power Corporation, Infosys, Asian Paints and Mahindra & Mahindra.