Equity benchmark indices Sensex and Nifty fell by over 1 per cent each for the second consecutive trading session on Wednesday amid news of retail inflation soaring to a 14-month high of 6.21 per cent in October, and unabated foreign fund outflows.

Muted quarterly earnings and weak trends in global markets further impacted the market sentiments.

The 30-share BSE Sensex tanked 984 points to close at 77,690; whereas the NSE Nifty shed 324 points to settle at 23,559.

From the Sensex pack, Tata Steel, Mahindra & Mahindra, Adani Ports, State Bank of India, and JSW Steel were the top losers, while NTPC, Tata Motors, and Infosys were the only gainers.

Sectoral indices across the board remained subdued, with auto, banks, capital goods, financial services, metals, and real estate stocks experiencing significant losses of more than 2 per cent.

In Asian markets, Japan’s Nikkei, Hong Kong’s Hang Seng, Seoul’s Kospi, and Indonesia’s Jakarta Composite ended in red, while China’s Shanghai Composite closed in green.

European markets were trading in positive territory. US markets ended with losses on Tuesday.

Foreign institutional investors were net sellers on Tuesday as they offloaded equities worth over 3,024 crore rupees.

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