Sensex tanks 519 pts on selling in IT, metal stocks & foreign fund outflow

Mumbai: Benchmark Sensex tanked 519 points and broader Nifty settled below the 25,600 level on Tuesday due to profit-taking in utility, metal and IT shares triggered by weak global trends and foreign fund outflows.

The 30-share BSE Sensex dropped 519.34 points, or 0.62 per cent, to settle at 83,459.15 with 25 of its constituents ending lower and five with gains. During the day, it tanked 565.72 points, or 0.67 per cent, to 83,412.77.

The 50-share NSE Nifty declined 165.70 points, or 0.64 per cent, to 25,597.65. It hit a low of 25,578.40 due to losses in bluechip shares such as PowerGrid, Eternal and Adani Enterprises.

Among Sensex firms, Power Grid fell the most by 3.13 per cent after the utility posted a decline in the September quarter profit. Eternal dropped 2.79 per cent, Tata Motors Passenger Vehicle by 2.53 per cent, Tata Steel by 1.86 per cent, Maruti by 1.76 per cent and Bharat Electronics by 1.69 per cent.

However, Titan was the biggest gainer, rising by 2.28 per cent on strong Q2 financial results. The company reported a 59 per cent jump in consolidated net profit to Rs 1,120 crore for the September quarter of FY26. Bharti Airtel, Bajaj Finance, Mahindra & Mahindra, and State Bank of India were the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,883.78 crore on Monday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 3,516.36 crore in the previous trade.

The BSE smallcap gauge dropped 0.69 per cent and midcap index dipped 0.26 per cent.

Utilities tumbled the most by 1.56 per cent, followed by metal 1.40 per cent, commodities (1.11 per cent), BSE Focused IT (1.08 per cent), IT (1.06 per cent), power (0.99 per cent) and realty (0.83 per cent). Telecommunication jumped 0.93 per cent and consumer durables climbed 0.11 per cent.

A total of 2,549 stocks declined while 1,618 advanced and 162 remained unchanged on the BSE.

Stock markets would remain closed on Wednesday for Guru Nanak Jayanti.

On Monday, the Sensex inched up 39.78 points, or 0.05 per cent, to settle at 83,978.49. The Nifty eked out a marginal gain of 41.25 points, or 0.16 per cent, to end at 25,763.35.