Mid-market trade: Nifty down 167 pts to 24,614, Sensex down over 500 points; smallcap index lost more than 3%

Indian stocks in Tuesday's trade were sharply lower amid a broad sell-off in the retail sector. European markets, meanwhile, traded mixed, with Germany's DAX index trading up 0.5 percent, while the French CAC and London's FTSE traded slightly lower. 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