Shares of rate sensitive sectors like banking, real estate and automobile companies came under heavy selling pressure on Tuesday, falling by up to 30 per cent on the National Stock Exchange (NSE).

The Nifty PSU Bank index tumbled 8 per cent in intra-day deals to 2,118, its lowest level since May 2016. Nifty Realty, too, slipped 6 per cent to 241, while Nifty Private Bank and Nifty Auto indexes down 3 per cent and 2 per cent, respectively. In comparison, the benchmark Nifty 50 index down 1.75 per cent at 11,273 points.

Maharashtra elections: The BJP announced the names of 125 candidates for the upcoming Maharashtra Assembly polls on Tuesday and said it will contest the election in an alliance with the Shiv Sena and some smaller parties. Chief Minister Devendra Fadnavis will contest the polls from the Nagpur South West seat and the Maharashtra unit chief of the Bharatiya Janata Party (BJP), Chandrakant Patil, from Kothrud, according to the list released by the party’s general secretary, Arun Singh.

Addressing a press conference, Singh said the party had not given tickets to 12 of its MLAs.

Reliance Jio has come out with a special offer for the festive season, offering JioPhones for a special price of Rs 699. The usual price of the phone is Rs 1500.

"This is a clear saving of over Rs 800 without any special conditions like having to exchange your old phone," said Reliance Jio in a statement about the the "JioPhone Diwali 2019 Offer".

Ashok Leyland reported a 57 per cent drop in domestic vehicle sales in September to 7,851 units from 18,078 units in the year-ago period.

The company's domestic sales of medium and heavy commercial vehicles (M&HCV) slumped 69 per cent to 4,035 units from 13,056 the previous year, while those of M&HCV trucks were down 74 per cent to 3,131 units from 11,837 units.

Homegrown auto major Mahindra and Mahindra (M&M) on Tuesday reported a 21 per cent decline in total sales at 43,343 units in September.

The company had sold 55,022 units in the corresponding month last year, M&M said in a regulatory filing.

The government is considering rationalising personal income tax rates to boost disposable income and give a fillip to consumer demand.

According to a Hindustan Times report, government officials are going over multiple options in order to simplify income-tax laws and rationalise tax rates.

Tier-II and tier-III cities are driving big business for e-commerce firms — Flipkart and Amazon — for the ongoing festival season.

Walmart-owned Flipkart on Monday night said tier-II and tier-III cities ushered in the festive cheer for the firm during the second day of its flagship event ‘The Big Billion Days’ 2019.

Paytm Mall said it would generate at least Rs 500 crore in actual sales for its offline brick-and-mortar retailers this festive season. It says so at a time when trader bodies are at loggerheads with Amazon India and Flipkart over the massive discounts during such sale drives.

Paytm Mall is the online shopping platform created by Paytm, the e-commerce payment system and financial technology entity. We have, says the former, been working hard on our omni-channel model.

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday reported a 24.4 per cent decline in sales at 1,22,640 units in September.

The company had sold 1,62,290 units in September last year, MSI said in a statement.

Vodafone Chairman Gerard Kleisterlee, Chief Executive Officer Nick Read and Vodafone-Idea Managing Director and CEO Ravinder Takkar on Monday met telecom secretary Anshu Prakash at a time when the government is busy preparing for the upcoming spectrum auctions.

Vodafone Idea has been seeking a two-year moratorium on its annual spectrum payment citing debt and stress on balance sheet.

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