Market benchmark BSE Sensex Tuesday tumbled by about 295 points or 0.78 per cent to close at 37,290.67 due to increasing crude oil prices and mounting trade tension.
It had lost 505.13 points or 1.33 per cent on Monday as rupee woes and trade war worries spooked investors.
Led by the sharp fall in stocks, the market capitalisation (m-cap) of BSE-listed companies plunged Rs 2,72,549.15 crore to Rs 1,53,64,470 crore since Friday.
“Selling pressure increased on the bourses due to spike in oil prices,” said Vinod Nair, Head of Research, Geojit Financial Services Ltd.
Flaring up of trade tariff tensions between the US and China and weakness in the rupee have also added to weak investor sentiment.
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