The domestic equity benchmark indices extended their losses in the early trade on Tuesday as the elevated crude oil prices amid renewed tensions between US and Iran made the investors risk averse. The heightened activity in the primary market with nearly a dozen mainboard initial public offering (IPO) this week, that is estimated to garner over Rs 7,000 crore, has also contributed to the decline, according to analysts.

During the initial trade, 30-share BSE Sensex slumped 346.53 points or 0.46 per cent at 75,786.28, while the 50-share NSE Nifty dropped 95.85 points or 0.40 per cent to 23,683.30.