Markets snap 4-day winning run; Sensex down 195 points

Benchmark Sensex declined by 195 points on Tuesday, snapping its four-day gaining streak due to selling in IT shares and index heavyweight Reliance Industries amid weak trends from global markets and foreign fund outflows.

Taking a breather after a record-breaking rally, the 30-share BSE Sensex declined by 195.16 points or 0.26 per cent to settle at 73,677.13 due to profit taking.

During the day, the barometer tanked 460.04 points or 0.62 per cent to 73,412.25.

The broader Nifty declined by 49.30 points or 0.22 per cent to close at 22,356.30.

Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4 per cent each.

Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards.

Bharti Airtel, State Bank of India, Sun Pharma and NTPC were among the gainers.

Tata Motors, which announced the demerger of its passenger and commercial vehicle businesses into two listed entities, closed higher by 3.52 per cent after rallying to a 52-week high in intra-day trade.

Among Asian markets, Seoul, Tokyo and Hong Kong settled lower while Shanghai ended in the green.

Global oil benchmark Brent crude dipped 0.21 per cent to $82.63 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth Rs 564.06 crore on Monday, according to exchange data.