NSE benchmark Nifty extended steep decline for the second session on Tuesday, falling 98.85 points to 11,278.90 due to sharp sell-offs mainly in banking, realty and auto sectors.
Investors remained cautious after US President Donald Trump imposed 10 per cent tariffs on an additional $200 billion worth of Chinese imports, and warned of duties on more products if China took retaliatory action.
Domestic shares spent most of the trading session in negative territory although the reaction was muted. However, selling pressure intensified in the last hour of trade. Crude prices weighed on the market as well as traders reacted to statements from Saudi Arabia.
Overseas, European shares were trading higher. Asian shares ended mixed after Trump administration decided to impose 10 per cent tariffs on $200 billion worth of Chinese imports.
Back home, The broader midcap and smallcap shares also saw intense selling pressure.