Sensex tumbles 568 points; markets fall for third day in a row

Benchmark indices declined for the third day running on Tuesday, with the Sensex tumbling 567.98 points amid weak global markets and continuous foreign funds outflow. Investors were risk-averse ahead of the RBI’s policy decision on Wednesday, traders said.The 30-share BSE Sensex tanked 567.98 points or 1.02 percent to settle at 55,107.34. During the day, it dived 792.91 points or 1.42 percent to 54,882.41. The broader NSE Nifty fell by 153.20 points or 0.92 percent to end at 16,416.35.From the Sensex pack, Titan, Dr Reddy’s, Larsen & Toubro, HUL, Asian Paints, Bajaj Finance, TCS and Nestle were the biggest laggards. In contrast, NTPC, Maruti, M&M and Bharti Airtel were the gainers.Elsewhere in Asia, markets in Hong Kong and Seoul finished lower, while Tokyo and Shanghai ended with marginal gains. European markets were trading lower during afternoon trade. Stock markets in the US had ended with gains on Monday.Meanwhile, international oil benchmark Brent crude dipped 0.26 percent to USD 119.2 per barrel. Foreign institutional investors offloaded shares worth a net ₹2,397.65 crore on Monday, according to stock exchange data. Rupee declines 7 paise to close at 77.73 against US dollarThe rupee slipped 7 paise to close at 77.73 (provisional) against the US dollar on Tuesday as a massive sell-off in domestic equities and stronger greenback overseas on investor sentiment. Persistent foreign capital outflows and elevated global crude oil prices also impacted the domestic unit, forex traders said.At the interbank foreign exchange market, the local currency opened at 77.72 and witnessed an intra-day high of 77.69 and a low of 77.73 against the US dollar.The local unit finally settled at 77.73, down 7 paise over its previous close of 77.66. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.22 per cent to 102.67.