Sensex slides 388 points; Tata Steel, RIL, Wipro, Bharti Airtel dip

The Indian equities markets' key indices fell sharply for the second consecutive day on Tuesday with the benchmark Sensex closing 388 points down on negative global cues.

The 30 stock S&P BSE Sensex slumped 388.20 points or 0.66 per cent to close at 58,576.37 points against its previous day's close at 58,964.57 points.

Earlier, the Sensex opened in the red at 58,743.50 points and slumped to a low of 58,298.57points in the intra-day.

This is the second consecutive day of a sharp plunge in the key indices. The Sensex had lost 482.61 points or 0.81 per cent on Monday.

The broader Nifty 50 of the National Stock Exchange fell 144.65 points or 0.82 per cent to 17,530.30 points. The Nifty had lost 109.40 points or 0.62 per cent on Monday.

Tata Steel plunged 2.76 per cent to Rs 1320.55. L&T slumped 1.86 per cent to Rs 1747.50. Bharti Airtel slipped 2.15 per cent to Rs 741.60.

The index heavyweight Reliance Industries slumped 1.90 per cent to Rs 2560.15.

IT stocks slumped for the second straight day. Tech Mahindra slipped 2.26 per cent to Rs 1415.95. Wipro dipped 2.16 per cent to Rs 558.85.

Only nine of the 30 scrips that are part of the Sensex closed in the positive. Axis Bank jumped 1.67 per cent to Rs 798.55. Kotak Bank surged 1.05 per cent to Rs 1801.50. Power Grid Corporation, Maruti Suzuki, ICICI Bank and IndusInd Bank were among the major Sensex gainers.

( With inputs from ANI )

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