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.

The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading around 24,810 level, a premium of nearly 20 points from the Nifty futures’ previous close.

Bank Nifty traded 0.75 per cent lower, led by losses in index heavyweights including SBI, HDFC Bank, Kotak Mahindra Bank and Bank of Baroda among others. Paytm shares fell sharply and traded with a cut of over 3 per cent at Rs 701 even as the company turned profitable during the September quarter on the back of one-time exceptional gains.

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 BSE fell by 388 points (-0.48%), while the Nifty dropped by 134.

The Nifty 50 wrapped up the session with a drop of 0.29%, closing at 24,781, while the Sensex finished the trading day down by 0.09%, closing at 81,151. Over 350 constituents of the Nifty 500 index closed in the red,

Nifty at the open was up by 0.03 per cent or 8.2 points at 24,789.3, while the BSE Sensex was up 0.04 per cent or 29.75 points at 81,181.02. Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said,

Bajaj Auto, HDFC Bank, Asian Paints, and Mahindra and Mahindra were among the top gainers on the Nifty index. Tata Consumers, Kotak Bank, BPCL, and Bajaj Finserv were among the top losers.