Major Asian stock fell on sustained selling by investors, amid continued worries of Eurozone debt crisis even as finance minsters of European unions deferred decision of releasing fresh funds to Greece. Tokyo's Nikkei fell over one percent to finish at 8,456. Hong Kong's Hang Seng index crashed to nearly three and one-half percent to close at 16,250.
In Indian stocks markets, the Sensex at the Bombay Stock Exchange fell 1.8 percent to close at 15,865. The Nifty at the National Stock Exchange declined 1.6 percent, to 4,772.
The shares of State Bank of India declined after reports that Moodys Investors Service has lowered the rating. It lost over 4.08 per cent. Auto sector index lost 1.94 per cent. Oil and gas sector index dropped by 1.72 per cent. Reliance, Infosys also fell by 2 percent and 1.44 per cent.
In currency trading, the dollar was selling at 76.67 yen, a gain of a fraction of a yen from Monday. Gold is trading at $1,668.07 an ounce. The Indian rupee was down by 29 paise at Rs 49.44 per US dollar in early trade.