The broader markets were not spared from the bearish sentiment, as both the Nifty Smallcap100 and Nifty Midcap100 indices closed lower. The Nifty Smallcap100 slipped by 0.93 per cent, reflecting selling pressure in smaller companies,

Top losers on the Nifty included Tata Steel, Zomato, L&T, Tata Motors and Adani Ports, while gainers were Nestle India, HUL, M&M, Kotak Mahindra Bank and Asian Paints

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 23,721 level, a discount of nearly 60 points from the Nifty futures’ previous close.

Benchmark equity indices Sensex and Nifty witnessed a sharp decline of 1.6% on Monday, driven by a broad-based selloff. Investor sentiment was dampened by concerns over slow third-quarter earnings growth and a continued outflow of foreign capital,