Indian bourses recorded a big fall on Tuesday and wiped out all its previous gains.

Finally, the 30-share index, BSE Sensex closed the weak day below 20k at 19,865.14 after shedding 444.55 points (2.19%).

In the meantime, the broad based Nifty marked its closure after falling 132.90 points (2.17%) at 5,988.70.

According to Dipen Shah, Senior Vice President (PCG Research), Kotak Securities, "While it is difficult to assign precise reasons to the fall, we opine that, weak overseas markets have likely resulted in this sharp fall in Indian markets. Global markets have turned weak likely on the back of concerns of monetary tightening in China and further weakness in some of the European economies."

On the other hand, Asian scrips declined for a third consecutive trading session on conjecture that the administration in the region will take further actions in order to control inflation.

Japanese benchmark index Nikkei 225 fell 0.31% to end at 9,797.10. Hong Kong`s Hang Seng dropped 334.16 points (1.39%) to end the day at 23,693. China`s Shanghai Composite lost 119.88 points at 2,894.54.

The major gainers in the Sensex pack were Bharti Airtel, Sun Pharmaceutical, ACC, Hero Honda and Grasim Industries.

In contrast, the top losers' in the list comprised Sterlite Industries (India), JP Associates, Hindalco, RCom, Tata Motors and L&T.

The BSE Midcap index shed 181.51 points to end the day at 8266.42.

The BSE Smallcap index lost 318.35 points to close at 10566.95.

Among sectoral indices, the Realty index shed 122.56 points followed by the Metal index, which lost 531.61 points; the Capital Goods index dropped 446.36 points and the Consumer Durables index declined 177.85 points.

Indian stock markets will remain closed today due to Bakri Id.