The S&P BSE Sensex and NSE Nifty 50 indexes lost all early gains and ended in red on Tuesday amid sell-offs in banks, metals and FMGC sectors.

The equity benchmark S&P BSE Sensex slipped 261.84 points or 0.83 per cent to close at 31,453.51, with State Bank of India being the top laggard and M&M, which jumped over 3 per cent, the top gainer.

Other gainers on the BSE chart included PowerGrid, ONGC and Reliance Industries were among the major gainers.

The NSE Nifty fell 87.90 points or 0.95 per cent to close at 9,205.60. Nifty FMGC fell 1.67 per cent to 27,138.60. Similarly p, the Pharma also slipped by nearly 2 per cent to hit 9,181.50 mark.

According to traders, the market extended its losses to another session led by downbeat sentiment in financial stocks.

Despite positive cues from global market, domestic investor sentiment remained volatile amid rising number of COVID-19 cases in the country, they said.

In India, the death toll due to COVID-19 rose to 1,568 and the number of cases climbed to 46,433 on Tuesday, according to the health ministry.

The number of cases around the world linked to the disease has crossed over 35.84 lakh and the death toll has topped 2.51 lakh.

Meanwhile, Bourses in Hong Kong ended over 1 per cent higher, while those in Shanghai, Tokyo and Seoul were closed for a holiday.

Stock exchanges in Europe were trading with significant gains.

The rupee, on the other hand, surged 10 paise to provisionally close at 75.63 against the US dollar.

International oil benchmark Brent crude futures rallied 7.02 per cent to USD 29.11 per barrel.