Markets slump over 1%

● Investors' wealth down ₹4.92 lakh cr

- KISHOR KADAM

TAKING CUES FROM other Asian equity markets and weighed down by an across-the-board selloff, the benchmark indices fell over 1% on Tuesday. The Sensex remained under selling pressure throughout the session and closed 1,064 points, or 1.30%, lower at 80,684.45—its second consecutive day of decline. Similarly, the NSE Nifty fell 332.25 points, or 1.35%, to end the day at 24,336.

"Weak Asian cues weighed on market sentiment, while the record trade deficit in November pushed the rupee to a new low, triggering panic selling," said Prashanth Tapse, senior VP (Research), Mehta Equities.

ALL MAJORASIAN markets ended in the red on Tuesday, a day ahead of the US Federal Reserve's meeting outcome. Besides India, equity markets in the Philippines, Thailand, Indonesia and South Korea recorded losses of over 1% each. China, Malaysia and Singapore indices were down 0.73%, 0.59%, and 0.55%, respectively, while Hong Kong fell 0.48% and Japan 0.24%.