Stock market indices trade lower; Sensex tumbles 650 points
Sensex down
The domestic stock markets extended their early losses and were trading at day's lowest point, down 2 per cent, on Tuesday, with financials, auto, and metal stocks dragging the indices.
At 14:31 PM, the Sensex was down 646.51 points or 1.76% at 36047.18, and the Nifty was down 190.50 points or 1.76% at 10612.20.
Bank, auto, financials, media and metal stocks, which surged in the recent rally, were under heavy pressure.
Meanwhile, India's auto sales volume will take another 3-4 years to reach 2018 levels, an industry body executive said on Tuesday, as the coronavirus-induced lockdown hurt monthly revenue and increased pressure on a sector already reeling from poor demand.
India's passenger vehicle sales rose 3% to 3.37 million units in fiscal 2018-19 but fell by 18% a year later due to weak demand and the onset of the pandemic.
(With inputs from agencies)
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