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In the international market, gold traded higher at USD 1,910 an ounce and silver was up at USD 24.12 an ounce.

The government is keeping a close eye on global developments due to the tension between Ukraine and Russia and will like to see a diplomatic solution to the crisis, Sitharaman said. She was in Mumbai for a post budget consultation with industrialists, bankers and also chaired a meeting of the Financial Stability and Development Council (FSDC).

The market has once again averted a breakdown on the charts by bouncing off the 200-DMA which presently stands at 16876.

Bharat Petroleum ended the day down 4 per cent while Indian Oil fell 2 percent and Hindustan Petroleum 1 per cent.

“The market is more news flow driven and so while in today’s market, in intraday we have seen the largecap index recovering, that recovery is not visible in the midcaps and smallcaps and certainly not in the individual stocks and more so not in the stocks which retail investors have been holding in general. It does not look like a comfortable point has been reached for bottom fishing. ”

Jagsonpal Pharma hit its upper circuit. KIOCL and Indiabulls Real Estate saw some buying. Apollo Pipes was also in demand among the investors.

The Nifty Realty index closed 2.91 per cent down at 430.0.

Hardening crude oil prices pose a major upside risk to India’s inflation and exert pressure on the trade deficit, given that the country is a massive importer of the commodity.

​​A meeting of the committee of the board on Tuesday approved the allotment of 3,000 secured redeemable non-convertible debentures (NCDs) of a face value of Rs 10 lakh each, aggregating to Rs 300 crore through private placement, Mahindra Finance said in a regulatory filing.

The safe-haven yen hit a near three-week high and the euro and riskier currencies fell on Tuesday as Russia ordered troops into breakaway parts of eastern Ukraine and the region stood on the brink of war.