Sensex, Nifty slump 1% amid unrelenting foreign fund outflows, weak global trends

Equity benchmark indices Sensex and Nifty slumped 1% each on Tuesday due to widespread selling pressure amid uninterrupted foreign fund outflows and sluggish global trends.

The BSE benchmark Sensex tumbled 820.97 points or 1.03% to settle at 78,675.18. During the day, it plunged 948.31 points or 1.19% to 78,547.84.

Falling for the third day running, the NSE Nifty tanked 257.85 points or 1.07% to 23,883.45.

From the 30-share Sensex pack, NTPC, Asian Paints, HDFC Bank, State Bank of India, Tata Motors, JSW Steel, Maruti and Power Grid were among the major laggards.

On the other hand, Sun Pharma, Infosys and ICICI Bank were the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,306.88 crore on Monday, while Domestic Institutional Investors (DIIs) infused ₹2,026.63 crore in shares, according to exchange data.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the negative territory.

European equity markets were also trading in the red. Wall Street ended higher on Monday.

Global oil benchmark Brent crude climbed 0.56% to $72.23 a barrel.

After gyrating between highs and lows, the BSE benchmark eked out a marginal gain of 9.83 points or 0.01% to settle at 79,496.15 on Monday. The Nifty dipped marginally by 6.90 points or 0.03% to 24,141.30.