The markets experienced a significant downturn on Tuesday as Hyundai Motors' IPO opened at a 1% discount, leading to declines in Indian benchmark indices. The Sensex fell by 931 points (-1.15%), meanwhile the Nifty dropped by 311.

On the 30-share Sensex platform, except ICICI Bank all the indices closed in the red. M&M, Tata Steel, PowerGrid, SBI, Tata Motors, IndusInd Bank are among the prime losers

Domestic equity benchmark indices Sensex and Nifty tanked over 1 per cent each on Tuesday on massive sell-off amid concerns over continued outflows from foreign portfolio investors (FPIs) and weak corporate earnings during the second quarter of the current fiscal.

The S&P BSE Sensex was down 73.48 points to close at 81,151.27, while the NSE Nifty50 lost 72.95 points to end at 24,781.10.

Erasing initial gains, benchmark indices Sensex and Nifty closed lower on Monday due to a sharp fall in Kotak Mahindra Bank and relentless foreign fund outflows