Indian benchmark indices closed sharply lower on Tuesday, with the BSE Sensex falling 893 points, or 1.16%, to 76,200, and the NSE Nifty 50 dropping 278 points, or 1.16%, to 23,824.
The broad-based selloff reflected renewed risk aversion across domestic equities, driven by weakness in the metals sector and concerns surrounding a major state-owned divestment.
Hindustan Zinc, a Vedanta Group company, was among the notable laggards, with shares sliding 5% to touch an intraday low of ₹544.
Hindustan Zinc, a Vedanta Group company, was among the notable laggards, with shares sliding 5% to touch an intraday low of ₹544.
The decline was largely attributed to a sharp drop in global silver prices, which weighed heavily on investor sentiment across the metals complex.
The pressure on Hindustan Zinc underscores the vulnerability of Indian miners to volatile commodity markets.
Meanwhile, the Indian Railway Finance Corporation (IRFC) faced selling pressure following the government’s announcement of an offer for sale (OFS).