Stock indices on Tuesday slumped 1.8% due to selling pressure witnessed in stocks on account of subdued global markets, rising COVID-19 spread concerns and higher than expected inflation numbers, analysts said.
Amid volatility, the S&P BSE Sensex closed at 36,033.06, down 660.63 or 1.80%. All indices on the BSE were down — S&P Sensex 50 was down 1.76%, S&P BSE 100 index 1.70% and S&P BSE Bharat 22 2.38%.
Among the Sensex stocks, only Titan, Bharti Airtel and Bajaj Auto ended with gains, while the rest closed in red. Major losers were IndusInd Bank at 5.33%, Axis Bank (5.08%), Maruti (3.69%), Power Grid (3.46%) and Bajaj Finserv (3.43%).
Nifty, too, closed with a loss of 1.81% at 10,607.35, down 195.35 points. All other indices were down — Nifty Next 50 (0.98%), Nifty Midcap 50 (1.79%), Nifty Auto (2.38%) and Nifty Bank index (3.16%).
Commenting on the market movement, Ajit Mishra, VP, Research, Religare Broking Ltd. said the decline was widespread and almost all the sectors, barring healthcare and telecom, ended in losses. Banking, metal and auto stocks were the top losers.