Indian equity markets extended their losses on Tuesday, with the benchmark Sensex sliding more than 520 points and the Nifty 50 breaching the critical 24,000 level.
The sell-off was driven primarily by weakness in the information technology and metals sectors, which faced heavy selling pressure amid broader risk aversion.
The decline marks a continuation of recent downward momentum in Indian equities, as investors digest mixed corporate earnings and cyclical headwinds.
Several large-cap stocks are now trading below book value, reflecting market concerns over weak earnings growth and ongoing business transitions in key industries.
Market participants are closely watching for signs of stabilization, particularly in the technology sector, which has been a major contributor to the recent losses.
The breach of the 24,000 level on the Nifty 50 is seen as a significant technical support test, with further downside possible if selling pressure persists.