The markets are still facing selling pressure post resumption of trade on Tuesday. The benchmark index is hovering around the 16,281 mark, marking a loss of 7.52 per cent or 1,323 points. In broader markets, Nifty is trading tanked 8.17 per cent. The 50-share index is trading at 4,783 levels. Earlier in the day, the markets hit the lower circuit filter and had to be shut down for an hour.