Sensex dives 704 factors on fag-end sell-off; Nifty ends beneath 17,000

Markets went right into a tailspin throughout fag-end of the commerce on Tuesday, with the Sensex closing 703.59 factors decrease as weak spot in HDFC twins and Infosys continued to dent sentiments.

Concerns over rising inflation and international fund outflows within the wake of the unsure geopolitical state of affairs additionally sapped investor confidence.

In a extremely risky commerce, the Sensex completed 703.59 factors or 1.23 per cent decrease at 56,463.15 as fag-end promoting emerged. In uneven commerce, the benchmark hit a excessive of 57,464.08 and a low of 56,009.07 through the day.

The NSE Nifty declined 215 factors or 1.25 per cent to settle at 16,958.65.

Both the indices closed within the pink for the fifth straight session.

From the 30-share Sensex pack, HDFC, HDFC Bank, Infosys, ITC, Tech Mahindra and HCL Technologies have been among the many main laggards.

In distinction, Reliance Industries, ICICI Bank, State Bank of India and Bajaj Finance have been the gainers.

In Asia, markets in Shanghai and Hong Kong settled decrease, whereas Seoul and Tokyo have been up.

Markets in Europe have been additionally buying and selling decrease within the afternoon session.

Stocks within the US had ended marginally decrease on Monday.

International oil benchmark Brent crude declined 1.39 per cent to USD 111.6 per barrel.

Foreign institutional buyers continued their promoting spree, offloading shares value a web Rs 6,387.45 crore on Monday, in line with trade information.