Market Closing: Sensex falls 550 points; Nifty below 18,150

On Tuesday, the Sensex fell 554.05 points, after steep declines in real estate, Auto, and metal company stocks  amid widespread selling pressure in global markets.

The BSE 30-stock index fell 554.05 points, or 0.90 percent, to 60,754.86. The NSE Nifty index slid 195.05 points, or 1.07 percent, to 18,113.05.

With a loss of almost 4 percent, Maruti Suzuki led the Sensex pack, followed by Tech Mahindra, HCL Tech, Tata Steel, IndusInd Bank, and Larsen & Toubo The indices for Basic Materials, Telecom, Auto, Realty, and Metals all declined by 2.76 percent. Axis Bank, HDFC Bank, ICICI Bank, Kotak Bank Dr Reddy's, Titan, and Nestle India, on the other side, advanced.

In other parts of Asia, bourses in Hong Kong, Tokyo, and Seoul all closed the day with losses, while Shanghai ended the day with a gain. In mid-session dealings on European stock markets, there was a lot of selling pressure.

Meanwhile, Brent crude, the international benchmark for oil, rose 1.13 percent to USD 87.46 a barrel. According to stock exchange data, foreign institutional investors (FIIs) were net sellers in the capital market on Monday, selling shares worth Rs 855.47 crore.

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