A weaker-than-expected GDP growth for the first quarter of the financial year 2020 (Q1FY20) weighed on investor sentiment on Tuesday as the domestic equities ended with over 2 per cent losses. That apart, weak global cues also added to the woes.
The S&P BSE Sensex tumbled 770 points or 2.06 per cent to settle at 36,563. Out of 30 constituents, 28 scrips ended in the red while only two closed in the green.
On NSE, the benchmark Nifty50 index slipped below the crucial 10,800 level to end at 10,798, down 225 points or 2.04 per cent. Bank Nifty lost 604 points or 2 per cent to end at 26,824.15.
Market breadth remained in favour of declines as out of 2,608 scrips traded on BSE, 814 advanced, 1,615 declined while 179 remained unchanged.
Volatility index, India VIX, jumped 11 per cent to settle at 18.14.
In the broader market, the S&P BSE MidCap index ended at 13,246, down 222 points or 1.65 per cent while the S&P BSE SmallCap index ended at 12,370, down 165 points or 1.32 per cent.
On the sectoral front, all the indices ended in the negative territory with PSU Bank index taking the hardest knock (down 5 per cent), followed by metal and realty indices.
Among individual stocks, IDBI Bank surged 10 per cent in the last hour of the trade after Union Cabinet approved one-time infusion of fresh capital to the tune of Rs 9,257 crore by both Government and Life Insurance Corporation (LIC). The estock eventually settled at Rs 28.40 apiece on the BSE, up 6 per cent.
READ MORE GLOBAL CUES
Global stocks slipped toward a recent two-month low on Tuesday, as US-China trade tensions drove investors to the relative shelter of gold, the Japanese yen and government debt. European stocks were on the back foot as investors locked in profits from a three-day streak that saw indices scale near one-month highs. An index of European stocks was down 0.3 per cent.
In the currency market, sterling slumped below $1.20 to a three-year low, as Prime Minister Johnson’s implicit ultimatum to lawmakers to back him on Brexit or face an election sent investors scrambling to dump British assets.
(With inputs from Reuters)
 "MARKET WRAP: Sensex sinks 770 pts on weak Q1 GDP nos, Nifty ends at 10,798")
