Sensex loses 16,000 level as rupee hits record low

Mumbai: Benchmark index as well the broader 50-share NSE index extended falls to over 2%, after the rupee fell to a life low in the session, adding to gloom from still high headline inflation and a contraction in factory growth.

The benchmark index fell below the 16,000 level for the first time since 12 January.

Banks and auto shares were leading the losses. The NSE bank index was down 2.86%, and has fallen over 16% from its Feb highs, outweighing a 12% fall in NSE index.

BSE Auto index was down 3.56%.

ICICI Bank shares were down 4.4% and Maruti Suzuki India fell 3.3%.