Indian stock indices Sensex and Nifty registered declines on Tuesday, with Sensex tanking 533.50 points and the broader Nifty shedding 167.20 points to settle at 25,860 amid persistent foreign fund outflows, a weak rupee and sluggish global market trends.
The 30-share BSE Sensex tanked 0.63 per cent to settle at 84,679.86. During the day, it dived 592.75 points or 0.69 per cent to 84,620.61.
The 50-share NSE Nifty dropped 167.20 points or 0.64 per cent to 25,860.10.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,468.32 crore on Monday, while domestic institutional investors (DIIs) bought stocks worth ₹1,792.25 crore, according to exchange data.
Vinod Nair, Head of Research, Geojit Investments Limited, blamed poor rupee and FII outflows to dented investor sentiment.
“Continued INR weakness to fresh record lows, driven by persistent FII outflows and subdued global sentiments, dragged domestic markets into negative territory,” he said.
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Among Sensex firms, Axis Bank tanked the most by 5.03 per cent. Eternal, HCL Tech, Bajaj Finserv, Tata Steel, UltraTech Cement and Bajaj Finance were also among the laggards.
However, Titan, Bharti Airtel, Mahindra & Mahindra and Asian Paints were among the gainers.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng index all ended sharply lower.
US markets also ended in negative territory on Monday, while European markets were trading on a mixed note.
Brent crude, the global oil benchmark, declined 1.54 per cent to USD 59.63 per barrel.
On Monday, the Sensex dipped 54.30 points or 0.06 per cent to settle at 85,213.36. The Nifty edged lower by 19.65 points or 0.08 per cent to 26,027.30.
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