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Shares of banking, realty, PSU, metal, auto, refinery and capital goods sectors declined on heavy selling pressure.

The sensex resumed lower at 18,460.72 and dropped further to a low of 18,281.61 before quoting at 18,301.61 at 10.30am, showing a loss of 256.52 points, or 1.38 per cent, from its last close.

The NSE 50-share Nifty also moved down by 81.75 points, or 1.49 per cent, to 5,394.75 at 10.30am.

The NSE was down 142 points at 11.45am.

Major losers were HDFC Bank (4.34 per cent), HDFC (4.19 per cent), M&M (2.55 per cent), ONGC (2.48 per cent), Coal India (2.47 per cent), Sun Pharma (2.24 per cent), Maruti Suzuki (2.17 per cent), Hindalco Ind (2.01 per cent), BHEL (1.82 per cent) and SBI (1.81 per cent).

Foreign institutional investors (FIIs) sold shares worth a net Rs 607.43 crore on Monday as per provisional data from the stock exchanges.

Asian stocks fell in early trade after US secretary of state John Kerry said the American president wi ll hold Syria's government accountable for using chemical weapons against Syrian civilians. Key benchmark indices in China, Singapore, Taiwan, Hong Kong, Indonesia and Japan fell by 0.19 per cent to 1.92 per cent while South Korea's Kospi rose 0.29 per cent.

Rupee hits new record low

The rupee tumbled to an all-time intra-day low of 65.72 per dollar on Tuesday on heavy month-end demand of the US currency from importers and banks amid sharp fall in the local equity market.

It quoted 65.72 at noon at the Interbank Foreign Exchange (Forex) Market here. The rupee resumed lower at 65.00 per dollar as against the last closing level of 64.30 per dollar at the Interbank Forex Market and dropped further to a historic low of 65.72 per dollar at noon.

It showed a loss of 142 paise or 2.21 per cent. Persistent month-end dollar demand from importers, mainly oil-refiners, amid sustained foreign capital outflows from equity market pulled down the rupee value against the dollar, a forex dealer said.