Sensex tumbles over 537 points on profit booking in IT, financial shares

The NSE Nifty declined by 162.40 points or 0.94% to 17,038.40

Benchmark stock indices Sensex and Nifty tumbled nearly 1% on Wednesday on profit booking in financial and IT stocks after a recent rally.

The 30-share BSE Sensex tumbled 537.22 points or 0.94% to end at 56,819.39. During the day, it tanked 772.57 points or 1.34% to 56,584.04.

The NSE Nifty declined by 162.40 points or 0.94% to 17,038.40.

From the 30-share Sensex pack, Bajaj Finance, Bajaj Finserv, ICICI Bank, Titan, Dr Reddy's, Wipro, State Bank of India, Infosys, Maruti and UltraTech Cement emerged as the major laggards.

In contrast, Tata Steel, Asian Paints, HCL Technologies, TCS, Kotak Mahindra Bank, Reliance Industries and HDFC Bank were the gainers.

Asian markets were mixed, with Tokyo and Seoul settling over 1% lower, while Hong Kong and Shanghai ended higher.

Markets in Europe were trading in the green in the afternoon session.