Sensex tumbles 844 points as IT, metal stocks drag; Nifty settles at 16,984

NEW DELHI: Equity indices plunged for third straight session on Tuesday with the benchmark BSE sensex tumbling over 800 points amid mixed trends from global markets.
The 30-share BSE benchmark slumped 843.79 points or 1.46% to settle at 57,147.32. During the day, it tanked 940.71 points or 1.62 per cent to 57,050.40.
The broader NSE Nifty fell 257.45 points or 1.49% to end at 16,983.55.
IndusInd Bank was the top loser in the sensex pack with its share falling 3.7%, followed by Nestle India, Tata Steel, Infosys and HCL Tech.
Axis Bank and Asian Paints were the only 2 stocks that finished in green.
On the NSE platform, all sub-indices finished in red with Nifty Realty, Metal and IT dragging the most.
“Investors are becoming risk-averse due to rising geopolitical turmoil as well as worries about the global economic slump. Investors’ caution ahead of the announcement of inflation data prevented a better-than-expected start to IT earnings from improving market mood,” said Vinod Nair, head of research at Geojit Financial Services told PTI.
However, as compared to global counterparts, domestic selling is not as aggressive since FII selling is primarily absorbed by DIIs, Nair added.
Elsewhere in Asia, markets in Seoul, Tokyo and Hong Kong ended lower, while Shanghai settled in the green.
Stock exchanges in Europe were trading in the negative territory in mid-session deals. The US markets had ended lower on Monday.
Meanwhile, foreign institutional investors (FIIs) offloaded shares worth a net Rs 2,139.02 crore on Monday, according to data available with BSE.
(With inputs from agencies)

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