After opening in green equity benchmark indices Sensex and Nifty declined over 1 per cent each to end the trading session on Tuesday with sharp losses, amid weak global cues and sell-off in auto and banking stocks.

Unabated foreign fund outflows further dented the market momentum.

The 30-share BSE Sensex tanked 821 points to close at 78,675; whereas the NSE Nifty shed 258 points to settle at 23,883.

From the 30-share Sensex pack, NTPC, Asian Paints, HDFC Bank, State Bank of India and Tata Motors were the top losers; while Sun Pharma, ICICI Bank, Infosys and TCS were the only gainers.

On the sectoral front all indices ended with losses where Auto, Capital Goods, Metals, Power, Banks and FMCG stocks experienced the most significant declines.

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

European markets were trading in negative territory. US markets settled higher on Monday.

Foreign Institutional Investors were net sellers on Monday as they offloaded equities worth over 2,306 crore rupees.