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Sensex, Nifty Nosedive Amid Global Selloff

Indian shares opened sharply lower on Tuesday to extend their recent sell-off
as growing concerns over fiscal slippage and the return of the long term capital gains tax on equities in this Budget continued to haunt investors ahead of the RBI policy review due this week.

A global rout on concerns over returning inflation and higher interest rates also kept investors nervous.

The benchmark BSE Sensex was down 1030 points or 2.96 percent at 33,726, extending losses for a sixth consecutive session. Earlier in the day, the Sensex fell nearly 1,300 points to hit a low of 33.483.

The broader Nifty index was down 308 points or 2.89 percent at 10,358, with Asian Paints, UltraTech Cement, SBI, HCL Technologies, Bajaj Finance, Vedanta, Yes Bank, Axis Bank, Indiabulls Housing Finance and Tata Motors losing 4-7 percent.

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