Indian stocks continued to trade in red on Tuesday afternoon, with the benchmark BSE Sensex falling over 1,200 points due to weak global cues after US crude oil prices plunged in the negative territory, because of weak demand and lack of storage capacity.
The fall in Indian shares was largely on the back of the weakness in the Asian markets which tumbled post the crash in the US oil prices. This was the first time in the oil price history when the futures of WTI crude in the US fell below zero and turned negative.
At the time of reporting, the S&P BSE Sensex was trading at 30,555.67 lower by 1,092 points from the previous close of 31,648.
It had opened at 30,836.19 and has touched an intra-day high of 30,900.12 and a low of 30,378.26 points.
The NSE Nifty50 was trading at 8,969.45, lower by 292.40 points from the previous close.
Heavy selling was witnessed in oil and gas, finance, banking and energy stocks.