Closing bell: Sensex drops 179 points, Nifty settles below 10,600

Indian benchmark indices BSE Sensex and NSE’s Nifty 50 declined for the second straight session on Thursday ahead of the expiry of June derivatives contracts, and as escalating trade war concerns continued to pressure global stocks. The Indian rupee slipped to a record low against the US dollar, following further spike in oil prices and concerns of higher inflation and widening fiscal deficit. European stocks traded lower, tracking losses in Asian markets as investors continued to grapple with US strategy toward Chinese trade and investment.BSE Sensex closed lower by 179.47 points, or 0.51%, to 35,037.64, while the Nifty 50 fell 82.30 points, or 0.77%, to close at 10,589.10. BSE MidCap and SmallCap, however, shed 1.62% and 1.50%, respectively.All the sectoral indices on BSE, except metal and telecom, declined with oil and gas, consumer durables, energy and realty losing over 2%.Mahindra, NTPC, Bharti Airtel and Kotak Bank were among the top gainers, whereas ICICI, Tata Motors, HPCL and Tech Mahindra were among the major losers.Get Instant Free Trial Click HereReference By- https://www.livemint.com/Money/zpAa5lIStRq6UxUPXrNwrN/Stock-Market-LIVE-Trade-concerns-hammer-global-stocks-Rupe.html