After slumping over 300 points during the day, the BSE gauge pared some losses to settle 193.65 points, or 0.48 per cent, lower at 39,756.81. The index hit an intra-day low of 39,623.53 and a high of 39,982.10.
Similarly, the broader NSE Nifty fell 59.40 points, or 0.50 per cent, to close at 11,906.20. During the day, the index touched a low of 11,866.35 and a high of 11,962.45.
Yes Bank was the worst performer in the Sensex pack, declining 3.34 per cent, after Moody’s placed the private sector lender’s ratings under review for a possible downgrade.
Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.
On the other hand, Tata Steel, ONGC, Vedanta, Sun Pharma, TCS, RIL, HUL and ITC bucked the weak market trend and gained up to 2.60 per cent.
US President Donald Trump on Tuesday said he was not interested in a trade deal unless China agreed to four-five major points. “We had a deal with China and then they went back on the deal. They said, ‘We don’t want to have four major points, five major points’. So, we changed it. But we had a deal with China. Unless they go back to that deal, I have no interest,” he said.
Elsewhere in Asia, Shanghai Composite Index fell 0.56 per cent, Hang Seng ended 1.73 per cent lower, Nikkei slipped 0.35 per cent and Kospi shed 0.14 per cent.
Bourses in Europe were also trading in the red in their early deals. On the currency front, the Indian rupee appreciated 10 paise to 69.34 against the US dollar intra-day. Brent crude futures, the global oil benchmark, dived 2.57 per cent to USD 60.69 per barrel.
(With inputs from PTI)