The stock benchmark Sensex fell over 430 points on Tuesday as investors booked gains in banking and financial stocks after sharp gains in the previous session.
Investors’ focus is back on the Russia-Ukraine war and rising oil prices, traders said.
The 30-stock BSE gauge ended 435.24 points, or 0.72% lower, at 60,176.50. Similarly, the NSE Nifty lost 96 points, or 0.53%, to close at 17,957.40.
HDFC Bank was the top loser in the Sensex package, followed by Bajaj Finserv, HDFC, Kotak Bank, IndusInd Bank, Bajaj Finance and Reliance Industries.
On the other hand, NTPC, PowerGrid, ITC, Titan, TCS and Nestle India were among the gainers, rising to 3.40%.
Of the Sensex constituents, 17 stocks closed lower while 13 were in the green.
Banking and financial indices fell sharply to 1.33%, while the power segment rose 3.38%.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul closed on firm ground.
Stock exchanges in Europe traded negative on mid-session deals.
International oil benchmark Brent crude jumped 1.59% to $109.24 a barrel.
Investors are keeping a close eye on developments in Ukraine amid speculation that Russia could face even tougher economic sanctions.
Foreign institutional investors (FIIs) pumped more than £1,150 billion into equities on a net basis amid a market rally, according to stock market data on Monday.