The Indian equity indexes fell for the second straight session on Tuesday, pulled down by metal and information technology (IT) firms as investors awaited retail inflation data for the previous month.

The BSE Sensex fell 388 points, or 0.66 percent, to 58,576, while the wider NSE Nifty dropped 145 points, or 0.82 percent, to 17,530. Mid- and small-cap stocks finished down, with the Nifty Midcap 100 index falling 1.92 percent and small-cap stocks falling 1.58 percent.

With the start of earnings season, investors have become more cautious. On Monday, IT behemoth Tata Consultancy Services (TCS) kicked off the fourth-quarter earnings season by reporting a greater profit due to huge deal signings.

The National Stock Exchange's 12 sectoral indices closed the day in the red. Nifty Metal and Nifty IT fell 2.74 percent and 1.48 percent, respectively, underperforming the index.

 Hindalco was the highest Nifty loss, falling 5.77 percent to Rs 543.10. The laggards included Coal India, Grasim Industries, Tata Motors, and Tata Steel. On the BSE, however, the total market breadth was negative, with 1,174 shares rising and 2,247 falling.

RBI regulated markets to begin trading at 9 am from April 18

​Ruchi Soya renames Patanjali Foods Ltd after Board approval

Rupee climbs 13-ps to 75.90 vs USD amid RBI maintaining status quo