Stock Market Closing: Big fall in the market, Sensex slips more than 500 points, Nifty closes above 16000

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Stock Market Closing: After yesterday's flat closing, there has been a big decline in the market on Tuesday.

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Selling is dominating the market since this morning. On the second trading day of the week, both the Sensex and Nifty indices closed in the red mark.

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Sensex slipped 508.62 points or 0.94 percent to close at 53,886.61 level. Apart from this, the Nifty index closed at the level of 16,058.30 after falling 157.70 points or 0.97 percent.