Sensex hits one-month low, ends below 31,000; PSU banks lead decline

The S&P BSE Midcap and the S&P BSE Smallcap indices underperformed to lose 0.8% and 1.6%

The market hit one-month low on Tuesday with the S&P BSE Sensex ending below its crucial 31,000 level, while the broader Nifty50 settled a tad above its key support of 9,500 level after breaching it in intraday trade. 

The losses were ledy by public sector banks, which took a hit following a report that the Reserve Bank of India (RBI) has demanded higher provisioning for loans submitted under the insolvency process.

The 30-share Sensex settled at 30,958, down 180 points, while the Nifty50 ended at 9,510, down 64 points. 

In the broader market, the S&P BSE Midcap and the S&P