Just days after the Sensex breached the psychological mark of 10,000 points, the bears have hit back, with equities falling for the second day in a row on the back of continued selling.
The BSE Sensex closed at 9,686.75 points on Tuesday, recording a fall of 241.6 points or 2.43 per cent from its previous close.
Nifty followed the losing trend ending the day’s trading at 2,968.65 lower 2.32 per cent.
As losers outnumbered the gainers on both bourses, the madcap index showed a dip of 2.58 per cent and consumer durables being the worst affected of all the sectoral indices.
Satyam Computers, which closed at Rs 162.40 led the losers while Reliance Communications was one of the better performers gaining 1.24 per cent to close at Rs 213.50.
The domestic markets followed a general slump in other Asian markets, which was largely attributed to China cutting interest rates by less than expected and Toyota Motors forecasting a loss.