The Bombay Stock Exchange benchmark Sensex tanked over 225 points in opening trade on Tuesday as funds sold heavily in line with the meltdown in overseas markets.
The 30-share index, which gained 23.94 points in Monday’s volatile session, slumped 225.27 points, or 1.37 per cent, to 16,244.28 points.
All the sectoral indices, led by metals, IT and banking, were trading in the negative zone, with losses up to 1.68 per cent.
The wide-based National Stock Exchange index Nifty also fell sharply by 74.05 points, or 1.41 per cent, to 4,869.90.
Stock brokers said trading sentiment was dampened after selling by funds and retailers in tandem with a steep fall in the U.S. and Asian bourses on Europe’s deteriorating debt crisis.