Investors lost Rs 61,302 crore in a day as m-cap of BSE-listed firms fell to Rs 1,52 lakh crore.
The auto pack emerged as the only sectoral loser on BSE, falling 0.29% on losses in Tata Motors.
Barring occasional hiccups, the stock has been on an upward trajectory for some time now.
Crude oil is creating havoc in the market. The rally has mainly affected a few Asian countries.
Analysts say the stock has caught the attention of high-risk investors.
Shares of HDFC Bank closed 0.96 per cent lower at Rs 2,268, falling prey to a broader selloff.
Analysts said a stock-specific approach can hold investors in good stead.
Political developments may keep market under pressure till election results are out on May 23.
Caution crept in ahead of fourth quarter earnings of Reliance Industries.
MACD showed bullish crossovers on 97 counters, indicating that these stocks may log gains ahead.
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