The benchmark Sensex ended the session at 75,171, with a decline of 220 points or 0.3 per cent, while the Nifty 50 index ended the session at 22,888, with a drop of 44 points or 0.2 per cent. The India VIX, a gauge of market volatility, rose 4.32 per cent to end at a fresh two-year high of 24.2.
The broader index saw a steeper fall amid profit booking. The Nifty Midcap 100 snapped its 12-day winning streak and ended the session at 52,295, a decline of 0.9 per cent.
During its 12day gaining run, the index had gained 7.4 per cent.
The Nifty Smallcap 100 index closed at 16,876, declining 0.8 per cent.
Indian equities have been jittery amid the ongoing elections and selling by foreign portfolio investors (FPIs).
Investors are concerned about the margin of victory of the ruling national democratic alliance (NDA) and are booking profits amidst concerns about policy continuity.
The lower turnout in the elections had raised concerns about how voter fatigue may impact the outcome.
Analysts said any outcome, which could affect the NDA government to continue with its policies could disappoint markets.
The market breadth was weak, with 2,594 stocks declining and 1,236 advancing.
FPIs were net buyers of ₹65 crore on Tuesday, while domestic institutions bought shares worth 3,232 crore.

India Vix hits two-year high

910.03,1394.06,331.49,128.30,2020.00,3101.00

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