Equity benchmark Sensex dropped over 430 points on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session.
Investor focus returned to the Russia-Ukraine war and rising oil prices, traders said.
The 30-share BSE gauge ended 435.24 points or 0.72% lower at 60,176.50. Similarly, the NSE Nifty shed 96 points or 0.53% to close at 17,957.40.
HDFC Bank was the top loser in the Sensex pack, 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, surging up to 3.40%.
Of the Sensex constituents, 17 shares closed lower while 13 were in the green.
Banking and financial indices fell sharply, up to 1.33%, while the power segment rallied 3.38%.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul closed on a firm footing.
Stock exchanges in Europe were trading on a negative note in mid-session deals.
International oil benchmark Brent crude spurted 1.59% to $109.24 per barrel.
Investors are keeping a close watch on the developments in Ukraine amid speculations that Russia could face even stricter economic sanctions.
Foreign institutional investors (FIIs) pumped more than ₹1,150 crore into equities on a net basis on Monday amid a rally in the market, according to stock exchange data.
