Markets extend losses for 3rd session amid broad-based selloff; Sensex slips below 81k

Equity benchmark indices Sensex and Nifty tumbled nearly 1 per cent on Tuesday, weighed down by a widespread selloff amid renewed foreign fund outflows and growing geopolitical uncertainties.

The 30-share BSE Sensex tanked 636.24 points or 0.78 per cent to settle at 80,737.51. During the day, it dropped 798.66 points or 0.98 per cent to 80,575.09.

The NSE Nifty plunged 174.10 points or 0.70 per cent to 24,542.50.

From the Sensex firms, Adani Ports declined 2.42 per cent. Bajaj Finserv, Bajaj Finance, Power Grid, Eternal, IndusInd Bank, Maruti, Tata Consultancy Services and UltraTech Cement were among the biggest laggards.

Mahindra & Mahindra emerged as the only gainer in the pack.

Adani Group’s 10 listed companies ended lower.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,589.47 crore on Monday, according to exchange data.

“The ongoing foreign fund outflows, coupled with weak global cues such as geopolitical tensions and uncertainty over trade deals, are adding pressure to the markets,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

In Asian markets, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng settled in positive territory, while Japan’s Nikkei 225 index ended lower. South Korean markets were closed.

European markets were trading lower. US markets ended higher on Monday.

Global oil benchmark Brent crude climbed 0.28 per cent to USD 64.81 a barrel.

After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade on Monday, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75. The Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60.