Stock Market Today, Closing Bell : Sensex, Nifty down 1% amid slump in TCS, foreign fund outflows

A view of the Bombay Stock Exchange
| Photo Credit: Paul Noronha

Benchmark equity indices Sensex and Nifty tumbled 1% each on Tuesday dragged down by a heavy sell-off in TCS, Infosys and Reliance Industries amid weak Asian markets and fresh foreign fund outflows.

The 30-share BSE Sensex tanked 736.37 points or 1.01% to settle at 72,012.05 after opening on a weak note. During the day, it dropped 815.07 points or 1.12% to 71,933.35.

The NSE Nifty slumped 238.25 points or 1.08% to finish at 21,817.45.

Investors turned cautious ahead of the U.S. Fed interest rate decision this week, analysts said.

Among Sensex shares, Tata Consultancy Services tanked over 4% as its promoter Tata Sons sold around 2.3 crore shares, or 0.65% of equity stake, in the IT services major through block deals.

IndusInd Bank, Wipro, Nestle, HCL Technologies, Infosys, Power Grid, ITC, Tech Mahindra, Tata Motors and UltraTech Cement were the other major laggards.

Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, Bajaj Finserv, Titan and Bharti Airtel were the gainers.

In Asian markets, Seoul, Shanghai, and Hong Kong settled lower, while Tokyo ended in the green.

European markets were trading with marginal gains. Wall Street ended in positive territory on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,051.09 crore on Monday, according to exchange data.

Global oil benchmark Brent crude dipped 0.40% to $86.54 a barrel.

The 30-share BSE benchmark climbed 104.99 points, or 0.14%, to settle at 72,748.42 on Monday. The NSE Nifty went up 32.35 points, or 0.15%, to 22,055.70.