Market litmus turns red as shares erase gains; rupees hits fresh record low

Indian shares closed lower on Tuesday, giving up more than 1 per cent gains made during the day, as investor sentiment soured in global markets, while rupee hit a fresh record low on concerns of a bigger current account deficit.

The NSE Nifty50 Index ended down 0.15 per cent at 15,810.85, while the S&P BSE Sensex dropped 0.2 per cent to 53,134.35. Both indices had gained over 1 per cent in morning trade.

US stock futures and European shares fell, while the euro sank to a two-decade low versus the dollar.

The Nifty IT Index fell 0.7 per cent.

“The US markets