New Delhi, Dec. 16 -- The Indian stock market suffered significant losses across segments on Tuesday, December 16, as the rupee fell to record low levels and weak global cues kept the market under pressure. The Sensex closed the day with a loss of 534 points, or 0.63%, at 84,679.86, while the Nifty 50 settled at 25,860.10, down 167 points, or 0.64%. The BSE Midcap index fell 0.78% while the Smallcap index declined 0.69%.

Investors lost over Rs.3 lakh crore in a single session as the overall market capitalisation of BSE-listed firms dropped to Rs.467.6 lakh crore from Rs.471 lakh crore in the previous session.

The major reason behind the market fall is the weakness of the Indian rupee. The rupee is at 91 against the US dollar, raising co...