Indian stock indices registered major losses on Tuesday. The Sensex closed at 72,012, witnessing a decline of 1.01%, while the Nifty closed at 21,817, dropping by 1.08%.
Twenty-three out of the 30 stocks listed on the BSE Sensex fell, reflecting the widespread nature of the downturn.
Key sectors like IT, metals, and automobiles recorded significant losses, with TCS shares declining by 4.37% and BPCL shares by 4.15%.
In contrast, Paytm shares surged by over 4.57%, following a 5% upper circuit observed the previous day.
The market fluctuations come amid concerns raised by the Securities and Exchange Board of India (SEBI) regarding overexuberance in small and midcap schemes.
SEBI has advised mutual fund trustees to assess whether lumpsum investments into small- and mid-cap funds are viable. “It is not appropriate to allow the froth to keep building,” SEBI Chairperson Madhabi Puri Buch said on March 11.
– Ranu Jain
