A morning walk down Dalal Street | After touching fresh record low of 71.23/$, rupee likely to be in focus

Last hour selling really put markets in a tailspin as Sensex lost over 300 points while Nifty slipped below 11600 levels on Monday. A couple of factors could be blamed:

A)Fall in rupee which touched a new low of 71.23/USD and closed at a record low of 71.21/USD 

B) Also, weak PMI data also dented sentiment. The Nikkei India Manufacturing Purchasing Managers' Index (PMI) fell to 51.7 in August 2018 from 52.3 in July 2018.

C)The bog blow came when Nifty broke below 11600 levels which could have been crucial stop loss for many traders 

D) Finally, trade war woes continue to haunt markets across the globe