Stock market indices Sensex and Nifty declined on Tuesday due to selling in blue-chip bank stocks and Reliance Industries.
Falling for the third straight session, the 30-share BSE Sensex tumbled 503.63 points or 0.59 per cent to settle at 85,138.27, while the 50-share NSE Nifty declined by 143.55 points or 0.55 per cent to 26,032.20.
During the day, the Sensex had tanked 588.9 points or 0.68 per cent to hit a low of 85,053.
It had last scaled a record high level in intra-day trade in the previous session, but closed lower due to profit-booking in the second half. On Monday, the benchmark jumped 452.35 points or 0.52 per cent to hit a record intra-day high of 86,159.02. Nifty climbed 122.85 points or 0.46 per cent to hit a lifetime high of 26,325.80.
Foreign fund outflows also contributed to the indices tanking, with Foreign Institutional Investors (FIIs) offloading equities worth ₹1,171.31 crore on Monday, while Domestic Institutional Investors (DIIs) bought stocks worth ₹2,558.93 crore, according to exchange data.
Also Read: Markets end flat for second day
Among Sensex firms, Axis Bank, HDFC Bank, Reliance Industries, ICICI Bank, Bharat Electronics and Larsen & Toubro were the biggest laggards.
However, Asian Paints, Maruti, Bharti Airtel and Bajaj Finance were among the gainers.
In Asian markets, Shanghai’s SSE Composite index settled lower while South Korea’s Kospi, Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index ended in positive territory.
Markets in Europe were trading higher. US markets ended lower on Monday.
Brent crude, the global oil benchmark, dipped 0.33 per cent to USD 62.96 per barrel.
On Monday, the Sensex had pared early gains and ended 64.77 points or 0.08 per cent lower at 85,641.90.
Follow us
