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The domestic stock market again saw a big fall on Tuesday. The domestic Sensex saw a decline of more than 700 points in Tuesday’s trading session. On the other hand, Nifty was seen slipping below 17900 levels during the trading session. In Tuesday’s trading session, only the auto and pharma sectors were seen trading on the green mark in the Indian market. The market volatility index (VIX) climbed up to 8%. On the second trading day of the week, the Sensex fell by 631.83 points to close at 60,115.48 while the Nifty slipped by 187.05 points to close at 17914.15.
The major reason for the sell-off in the Indian market on Tuesday was the selling done by FIIs. Due to selling by foreign institutional investors, the Indian market again lost the gains achieved on Monday. After Tuesday’s trading session, Dalal Steel’s investors lost about Rs 3 lakh crore in wealth. The market capitalization of companies listed on BSE has come down to 280 lakh crore during this period.