Sensex sank over 1,500 points to below 74,500 levels on Tuesday, wiping out over ₹10,00,000 crore of investor wealth. Meanwhile, Nifty also sank nearly 2% to hit a low of 23,348.40. "The austerity call by [PM Narendra Modi] impacted the stock prices of sectors that are expected to be negatively affected by reduced consumption," a market expert said.