Following a weak start, the Indian stock market extended losses on Tuesday as the intensity of headwinds increased, including rising crude oil prices and a selloff in global markets. The market also appeared cautious in the midst of the ongoing RBI policy meeting.
The 30-share Sensex fell 752.43 points, or 1.35 percent, to 54,925.89. Its broader counterpart, the NSE Nifty, fell 205.95 points, or 1.24 percent, to 16,363.60.
Titan Company, Dr. Reddy’s Laboratories, UPL, L&T, UltraTech Cement NSE -0.87 percent, HUL NSE -2.94 percent, and Asian Paints NSE -2.89 percent were among the worst performers, falling 2-5 percent. Meanwhile, energy companies such as ONGC NSE 5.13 percent, Coal India NSE 1.51 percent, BPCL NSE -0.08 percent, and NTPC NSE 0.52 percent defied the trend to gain up to 5%.
Investors lost Rs 2.56 lakh crore as the market capitalization of BSE-listed companies, which reflects their wealth, fell to Rs 253.84 lakh crore.