Indian markets witnessed a disappointing session on Tuesday with Sensex and Nifty hitting two months low. Domestic sentiment was dampened due to sliding crude oil prices and depreciating rupee as it touched 13 months low.

At the close, the benchmark 30-share index, BSE Sensex declined 538.12 points or 1.97% at 26,781.44 with 25 components registering drop. Meanwhile, the broad based NSE Nifty went down by 161.95 points or 1.97% at 8,057.65 with 44 components registering drop.

Dipen Shah, Head of PCG Research, Kotak Securities said, "Markets fell sharply on the back of weakness in global markets and commodities, especially crude. The depreciation of the rupee had a negative sentimental impact, we believe. The selling impacted all sectors, except IT, which bucked the trend due to the depreciating rupee and strong US data."
 
"Going ahead, the decision of the US Federal Reserve will be the immediate trigger. Apart from this, crude price will continue to have a bearing on the sentiments. On the domestic front, consensus between Centre and States on GST is a step in the right direction. RBI action on interest rates will be keenly watched and will be the next big trigger."

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