Sensex tanks 550 pts; Nifty slumps below 18,150

Mumbai: Equity benchmark Sensex plunged by 554.05 points on Tuesday, tracking deep losses in realty, auto and metal stocks amid widespread selling pressure in global markets.

The 30-share index slumped by 554.05 points or 0.90 per cent to end at 60,754.86. The broader NSE Nifty fell by 195.05 points or 1.07 per cent to 18,113.05.

Maruti was the top loser in the Sensex pack, shedding over 4 per cent, followed by Tech Mahindra, HCL Tech, Tata Steel, IndusInd Bank and L&T.

Sectorally, Basic Materials, Telecom, Auto, Realty and Metal indices fell up to 2.76 per cent.

On the other hand, Axis Bank, HDFC Bank, ICICI Bank, Kotak Bank Dr Reddy’s, Titan and Nestle India were the gainers.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, while Shanghai was positive. Stock exchanges in Europe were witnessing heavy selling pressure in mid-session deals.

Meanwhile, international oil benchmark Brent crude surged 1.13 per cent to USD 87.46 per barrel.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth Rs 855.47 crore on Monday, according to stock exchange data. (AGENCIES)