At 09:16 am, the BSE Sensex fell 525 points at 16,464 whereas the Nifty index dropped 146 points trade at 4973.
Indian markets closed lower on Monday after having improved from the day’s lows although the recovery was half-hearted and the index failed to close above 5230 levels, which remnants the most critical technical resistance for the Nifty.
Asian stock markets dropped and the Swiss franc held near a record high, investors discarded riskier assets in a global beat triggered by fears that political leaders are failing to undertake debt crises in Europe and US.
Brent crude pushed to a 6-month trough below $99 a barrel on Tuesday in a 2-session drop of further than $10, after a US credit relegates echoing a global slowdown.
At 09:15 am, the Hong Kong was trading 6.7 % lower, Tokyo was trading 4.4 % down, Seoul was trading 3.01 % down and Shanghai lost 1.1 %.