Indian equities extended losses for a second straight session on Tuesday, reacting to the Reserve Bank of India’s repo rate hike. The sell-off pushed the Sensex down by more than 1,100 points during the day.
The Nifty ended 371.25 points lower, or 1.64%, closing at 22,231.80, reflecting broad-based weakness across sectors.
On the Sensex, ITC, Adani Ports, IndiGo, Power Grid and Reliance Industries were among the biggest laggards, with their shares falling by up to 4%.
The day’s decline wiped out roughly Rs 9 lakh crore in investor wealth, according to the report. Market sentiment also remained under pressure amid war-related and geopolitical tensions affecting global and Indian markets.
The report noted that the Nifty has been in a declining trend for the past eight weeks, underscoring sustained weakness in the broader market.
