Benchmark indices dropped in trade, despite reasonably good global cues as investors worried over a sudden spike in Covid 19 cases. On Monday, Coronavirus cases jumped by near 4,000, even as lockdown was eased.
At one stage the Sensex touched a high of as much as 32,264 points, but, gave up all gains to end 811 points lower from the day's high.
Reports that more than a quarter of India's labour force is without a job post the nationwide lockdown to combat Covid-19 also impacted sentiments.
The Sensex ended the day lower by 261 points at 31,453 points, while the Nifty dropped 88 points in trade. Leading the set of losers in trade were clearly some of the consumer and FMCG stocks. Asian Paints and Britannia were the top losers from the Nifty space.
Banking and NBFC stocks also declined with Bajaj Finance, SBI and Axis Bank among the losers in trade.
Adani Ports ended the day lower ahead of results to be declared later today. Power Finance Corporation ended the day marginally lower after a single large trade was reported in the stock. Among the top gainers in trade today from the Nifty were ONGC, Bharti Infratel, Power Grid and Mahindra and Mahindra.
Meanwhile, the rupee ended the day with marginal gains at 75.64 against the U.S. Dollar as compared to Monday's close of 75.72.