As It stocks continued to be bogged down by global market sentiment, Sensex has shed another 159 points to end the day in the red at 59,567. Nifty also slid down to close below the 17,650 mark, as stocks such ICICI Lombard dropped after January-March results.
With tech down, HCL, Wipro and Infosys were among the worst losers, while lenders SBI and IndusInd also slipped.
Global markets in the red
At the same time, demand for oil and gas as well as pharma helped BPCL and Divis Labs make gains.
The decline was also caused due to a Rs 800 crore sell-off by foreign portfolio investors, as global indices mostly underperformed.
US stock markets ended Tuesday on a negative note and European peers were in the red, while Nikkei and Hang Seng also remained subdued.
Recession raises anxiety
On the other hand, Seoul's exchange remained a bright spot in Asia by entering green territory.
Indian stock indices had their longest winning streak in two years which lasted nine days, and have been in the red since the beginning of the week.
The global markets have been bogged down by a decline in the risk sentiment since investors are becoming more cautious about recession.
