Mumbai, Dec. 1 -- Key equity indices closed with minor losses, extending their decline for a second straight session. Both the Sensex and Nifty retreated after touching fresh record highs earlier in the day. The rupee fell to a new all-time low, pressured by weak foreign flows and uncertainty surrounding key trade negotiations with the United States. Caution prevailed ahead of a heavy IPO calendar and the RBI's monetary policy committee meeting later this week. The Nifty slipped below the 26,200 mark, with realty, healthcare and consumer durables stocks under pressure, while auto, metal and IT counters bucked the trend.

The S&P BSE Sensex declined 64.77 points or 0.08% to 85,641.90. The Nifty 50 index lost 27.20 points or 0.10% to 26,175...