Mumbai, May 13 -- Indian stock indices declined substantially lower on Tuesday and closed in the red, possibly due to the profit-booking following Monday's huge rally.

On Monday, Indian stock indices soared through the roof on Monday, supported by the news that the conflict between India and Pakistan had de-escalated after the two Armed forces reached an understanding.

At the end of the trading session today, BSE Sensex stood at 81,148.22, declining 1,281.68 points or 1.55 per cent, and the Nifty was down 346.35 points or 1.39 per cent at 24,578.35.

On BSE, the midcap index ended near the flatline, while Smallcap index added 1 per cent.

"The domestic market witnessed profit booking today, following yesterday's sharp rally. The relief-...