The BSE benchmark Sensex shed its three sessions of gains and tanked over 200 points in the morning trade on Tuesday following fresh selling after rupee again breached 65-mark amid a weakening trend overseas.
At 10.27 am, Sensex was down 237.91 points at 18320.22. Similarly, Nifty was down 75.80 points at 5400.70 during the same time.
Brokers said sentiments turned weak on emergence of selling after the rupee again breached 65-level by falling 104 paise to Rs 65.34 against the dollar and a weakening trend on the other Asian bourses, tracking losses in US markets.
The 30-share index lost 221.29 points, or 1.19 per cent, to trade at 18,336.84 with banking, realty, metal PSUs and oil and gas sector stocks leading the fall in early trade. Sensex had gained over 652 points in the previous three sessions.
Similarly, the wide-based National Stock Exchange index Nifty declined by 80.95 points, or 1.48 per cent, to 5,395.55.
In the Asian region, Hong Kong's Hang Seng index was down 0.24 per cent, while Japan's Nikkei Index shed 0.62 per cent in the morning trade on Tuesday.
The US Dow Jones Industrial Average ended 0.43 per cent lower in Monday's trade.