Stock markets extended their losses for the fifth straight day on Tuesday, led by oil and realty companies that saw their share prices decline much higher than the benchmark indices.
The S&P BSE Sensex, after gaining modestly in early morning trade, started falling, led by oil companies, reacting to the news that international crude oil prices touched a new seven-year-low on Monday in the US.
The Sensex closed at 25,310.33, down 219.78 points, or 0.86%. The broader, 50-scrip NSE Nifty also closed lower at 7,701.70, down 63.70 points, or 0.82%. The Nifty saw 41 of the 50 shares ending with losses.
The biggest Sensex losers were GAIL (India), Vedanta, Tata Steel, Hindalco, ONGC and Coal India, while four stocks - ITC, TCS, Tata Motors and Bajaj Auto - gained.
The S&P BSE Oil and Gas Index fell 198.38 points, or 2.14%, to close at 9,062.34.
GAIL (India), ONGC and Reliance witnessed moderate to heavy losses, the biggest being GAIL (India).
Realty stocks also ended in red, with the sectoral index losing 3.69% on the BSE. Prestige, DLF, Sobha, Oberoi Realty, Godrej Properties ended the day with losses.
Shipping Corporation of Indian and Jet Airways touched a new 52-week high, while those that plunged to a new 52-week low included Corporation Bank, Canara Bank, Larsen & Toubro, AIA Engineering, Adani Ports, BHEL, Bank of India, Bank of Baroda and Allahabad Bank.