Benchmark stock indices slid about 1.5% on Tuesday on rising geopolitical tensions in Europe.
The S&P BSE Sensex fell 843.79 points or 1.46% to 57,147.32 points. The Sensex stocks which lost most include IndusInd Bank (3.79%0, Nestle (3.34%), Tata Steel (2.86%) and Infosys (2.65%).
The NSE Nifty-50 index too slumped 257.45 points, or 1.49%, to 16,983.55 points.
“Investors are becoming risk-averse due to rising geopolitical turmoil as well as worries about the global economic slump,” said Vinod Nair, Head of Research, Geojit Financial Services.
“Investors’ caution ahead of the announcement of inflation data prevented a better-than-expected start to IT earnings from improving market mood. However, as compared to global counterparts, domestic selling is not as aggressive since FII selling is primarily absorbed by DIIs,” he added.
The Rupee, meanwhile, appreciated 19 paisa to 82.21 against the U.S. Dollar compared with the overnight close of 82.40.