Sensex, Nifty end 1% lower

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Equity benchmarks Sensex and Nifty ended 1% lower on Tuesday, dragged down by Reliance Industries and banking stocks along with a weak trend in European markets.

Unabated foreign fund outflows also negatively impacted the domestic equity market.

The 30-share BSE Sensex tanked 631.83 points or 1.04% to settle at 60,115.48. During the day, it tumbled 808.93 points or 1.33% to 59,938.38.

The broader NSE Nifty declined 187.05 points or 1.03% to end at 17,914.15.

From the Sensex pack, Bharti Airtel, State Bank of India, HDFC Bank, UltraTech Cement, Bajaj Finance, HDFC, NTPC, ITC, Reliance Industries, Tech Mahindra, ICICI Bank, and Tata Consultancy Services were the major laggards.

Tata Motors, Power Grid, Tata Steel, Hindustan Unilever, IndusInd Bank, and Mahindra & Mahindra were among the winners from the 30-share pack.

India’s largest IT services company TCS dipped 1.05% even after reporting an 11% rise in December quarter net profit to ₹10,846 crore.

Elsewhere in Asia, equity markets in Seoul and Tokyo ended in the green, while Shanghai and Hong Kong settled lower.

Equity exchanges in Europe were trading lower in mid-session deals. Markets in the U.S. ended on a mixed note on Monday.

International oil benchmark Brent crude dipped 0.46% to $79.28 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth ₹203.13 crore on Monday, according to exchange data.