Sensex tanks by 1,282 points as stock market slump over 1% day after sharp rally

The broader Nifty of NSE fell by 346.35 points or 1.39 per cent to 24,579.35.

Stock markets plumetted on Tuesday, with benchmark Sensex falling by 1,282 points after profit-taking in IT and FMCG shares a day before a record rally. Meanwhile, the 30-share BSE barometer tumbled by 1,281.68 points or 1.55 per cent to settle at 81.148.22 with 25 of its constituents closing with losses and five with gains.

Induslnd Bank and Sun Pharma were the top BSE Sensex losers.(PTI)

During the day, the 30-share BSE barometer fell sharply by 1,386.21 points or 1.68 per cent to 81,043.69. Meanwhile, the broader Nifty of NSE fell by 346.35 points or 1.39 per cent to 24,579.35.

Among the Sensex firms, Infosys declined by 3.54 per cent. Meanwhile, Power Grid, Eternal, HCL Tech, Tata Consultancy Services, Bharti Airtel, IndusInd Bank, NTPC and HDFC Bank also faced setbacks. The gainers were Sun Pharma, Adani Ports, Bajaj Finance, State Bank of India and Tech Mahindra.

IT, FMCG and auto sectors were the top losers. 

Vinod Nair, Head of Research, Geojit Investments Limited, said, “The domestic market witnessed profit booking today, following yesterday’s sharp rally. The relief-driven surge—fuelled by easing global and domestic risks, including a reduction in trade war tensions and Indo-Pak geopolitical stress—appears to be taking a breather.”