The 30-share index BSE Sensex lost more than 400 points on Tuesday (Sep 23) on worries over the long-term implications of the $700 billion bailout plan to fix the financial market turmoil. 

Moreover, rising crude oil prices also dampened the overall market reaction.

Heavy selling action was seen across the board. IT, realty, metal, banking and power stocks led the declines.

Both Midcap and Smallcap index lost 2.06% and 1.63% respectively. 

Breaking a two day rally, the majority of Asian stocks turned down on Tuesday, after commodity rates surged by the most since at least 1956 and fear grew the US financial-industry bailout won’t stop a downturn.

Finally, the Sensex closed the day after losing 424.65 points at 13,570.31. It also hit an intra-day high of 13,978.26 and an intra-day low of 13,543.47. 

The broad-based NSE Nifty lost 96.15 points at 4,126.90. It also touched an intra-day high of 4,224.70 and an intra-day low of 4,117.90.  

The total market breadth was weak. Out of 2652 stocks traded on the BSE, 1823 closed negatively. 760 stocks recorded gains and 69 stocks ended flat.

The major gainers in the 30-share index were ACC, which surged 0.27% and Tata Power Company, which climbed 0.16%. 

The major losers in the Sensex were Ranbaxy Laboratories (11.05%), DLF (6.25%), Satyam Computer Services (5.98%), Tata Consultancy Services (5.91%), Wipro (5.77%), and Housing Development Finance Corporation (5.53%).