Equity benchmark Sensex dropped by 554.05 points on Tuesday. Amid widespread selling pressure in global markets, sectoral indices including realty, IT, pharma, FMCG, auto, and metal stocks traded in red down by 1-2%. BSE midcap and smallcap indices dropped 1-2%.

The 30-share index plunged by 554.05 points or 0.90% to close at 60,754.86. The broader NSE Nifty dropped by 195.05 points or 1.07% to end at 18,113.05. Bank Nifty has settled at 38,210.30 points.

Maruti, Tech Mahindra, HCL Tech, Tata Steel, IndusInd Bank, and L&T were top Sensex losers. Maruti dropped over 4% to become the top loser.

Among sectoral indices, Basic Materials, Telecom, Auto, Realty, and Metal indices fell up to 2.76%.

Axis Bank, HDFC Bank, ICICI Bank, Kotak Bank Dr. Reddy’s, Titan, and Nestle India were the gainers in the Sensex pack.

Tata Consumer Products, Maruti Suzuki, UltraTech Cement, Eicher Motors, and Tech Mahindra were the top Nifty losers. Gainers were Axis Bank, HDFC Bank, Dr. Reddy’s Labs, ICICI Bank, and Kotak Mahindra Bank.

Asian peers, Hong Kong, Tokyo, and Seoul ended with losses, while Shanghai closed in green. European stock exchanges witnessed heavy selling pressure during mid-session deals.

Meanwhile, international oil benchmark Brent crude surged 1.13% to USD 87.46 per barrel.

Rupee slipped 33 paise to close at 74.58 against US dollar.

According to stock exchange data, Foreign institutional investors (FIIs) were net sellers in the capital market, as they sold shares worth Rs 855.47 crore on Monday.