The market is clinging to support above the 8,000 mark and hitting resistance above 8,150.
'This looks like a long-term bear market and there could be mounting losses in the near-term,' says Devangshu Datta.
'Global investors expect the rupee to be more vulnerable in the downturns in the future than ever before,' notes Apoorva Javadekar.
Markets gained for the second straight session to kick-off the September F&O series on a robust note.
Decline in the rupee coupled with a slide in the crude oil prices have dented the sentiments.
BSE Realty index zoomed by almost 7% followed by counters like Metal, Oil & Gas, Auto, Banks, Auto, Healthcare and Power, all surging between 1-5%.
Govt rules out controls on FII capital as Sensex tanks 3.97%, rupee breaches 62 intra-day & gold surges the most in two years
Benchmark share indices ended at record closing highs, amid a volatile trading session on Monday, with IT majors leading the gains.
