Sensex Extends Losses

The BSE Sensex fell 252.9 points or 0.4% to 62,581.7 in early deals on Tuesday, extending losses for the third straight session, tracking a pullback on Wall Street overnight as investors turned cautious ahead of an expected interest rate hike from the US Federal Reserve, after better-than-expected service-sector activity data.Investors were largely focussed on the RBI’s policy announcement on Wednesday, with interest rates expected to rise by a more modest 35 bps to 6.25%.

Meantime, the local currency weakened in early trade, as the dollar index strengthened overnight after data showed the US's services activity grew unexpectedly.

Most of the 15 sectors were trading in the red, weighed down by technologies, pharmaceuticals, metals, and auto.

Shares of Coforge dropped by -2.2%, followed by LT Mindtree (- 2.0%), MPhasis (-1.9%), Hindalco (-1.9%), and Tata Steel (-1.8%).

Meanwhile, Bajaj Consumer Care shares gained 3.7% on reports the board considering a share buyback.