The benchmark Sensex tumbled 519.34 points, or 0.62%, to close at 83,459.15 on Tuesday, while the broader NSE Nifty slipped 165.70 points, or 0.64%, to 25,597.65.
The fall was driven by profit-taking in utility, metal, and IT stocks amid weak global cues and continued foreign fund outflows.
During the session, the Sensex hit a low of 83,412.77, with 25 of its 30 constituents closing lower.
Power Grid led the losses, falling 3.13% after reporting a decline in September quarter profits, followed by Eternal, Tata Motors PV, Tata Steel, Maruti, and Bharat Electronics. Titan was the biggest gainer, rising 2.28% on strong Q2 earnings, while Bharti Airtel, Bajaj Finance, Mahindra & Mahindra, and SBI also posted gains.
Foreign Institutional Investors (FIIs) sold equities worth Rs 1,883.78 crore, while Domestic Institutional Investors (DIIs) bought Rs 3,516.36 crore. Sector-wise, utilities fell 1.56%, metals 1.40%, IT 1.06%, and power 0.99%, whereas telecom and consumer durables gained 0.93% and 0.11%, respectively.
The BSE smallcap index dropped 0.69% and the midcap index fell 0.26%.
Market sentiment remained subdued amid rising US bond yields and reduced expectations of a near-term Fed rate cut.
Asian markets, including South Korea, Japan, China, and Hong Kong, ended lower, while European markets traded in negative territory and US markets were mostly higher
Brent crude declined 1.34% to USD 64.02 per barrel. Indian markets will remain closed Wednesday for Guru Nanak Jayanti. (PTI)
