New Delhi - Indian shares dipped sharply for a second day Tuesday following global cues.

The Bombay Stock Exchange's 30-share Sensex was trading 2.5 per cent lower than Monday's close about two hours after opening while the broader 50-share Nifty of the National Stock Exchange registered a 2.6 per cent dip.

Analysts predicted the upheaval in global markets due to the continued credit crisis in the United States, with events like bankruptcy of investment bank Lehman Brothers, would bring further turmoil in the Indian share market.

The Sensex opened in the red for the sixth straight session on Tuesday and lost 480 points in early trade on all-round selling by foreign funds.

Banking, metal and realty counters suffered sharp losses. The biggest losers included Reliance Industries, Tata Steel, State Bank of India, ICICI Bank, HDFC Bank, Larsen and Toubro and Tata Motors. (dpa)