The BSE Sensex fell by 1,053.10 points to settle at 70,370.55 on Tuesday's trading session, while the Nifty fell by 330.15 points to 21,241.65.
The Nifty's notable losers included IndusInd Bank, Coal India, ONGC, Adani Ports, and SBI Life Insurance. Conversely, the gainers on the Nifty were Cipla, Sun Pharma, Bharti Airtel, ICICI Bank, and Dr Reddy's Laboratories.
In terms of sectoral performance, all sectoral indices, except pharma, witnessed losses during the trading session. The pharmaceutical sector stood out as the only gainer among various sectors. The BSE Midcap and Smallcap indices both recorded a significant decline, each down nearly 3 percent.
Global markets
In Asia, Hong Kong's Hang Seng recorded a significant gain of 2.63 per cent, while China's Shanghai Composite increased by 0.52 per cent. However, Japan's Nikkei 225 saw a decline of 0.8 per cent.
European markets were trading lower, with Germany's DAX down by 0.09 per cent, and France's CAC 40 losing 0.16 per cent. London's FTSE 100 also experienced a decline of 0.13 per cent.
In the United States, the Dow, S&P 500, and Nasdaq closed with gains of up to 0.36 per cent on Monday.
The domestic equity market in India was closed on January 22 due to the consecration ceremony in Ayodhya, while both the NSE and BSE held normal trading sessions on Saturday. On Saturday, the 30-share BSE Sensex fell 259.58 points or 0.36 per cent to settle at 71,423.65. The Nifty declined 50.60 points or 0.23 per cent to close at 21,571.80.
Meanwhile, the global oil benchmark Brent crude declined by 0.40 per cent to USD 79.74 a barrel on Tuesday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 545.58 crore on Saturday, according to exchange data.
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