Nifty slips 1%, Sensex shed over 550 points; auto, IT under pressure; banking stocks gain

The Indian markets ended on a negative note on Tuesday as the benchmark indices slipped nearly one per cent amid mixed global cues. The broader Nifty ended below 18, 100 as the index declined over 1 per cent, while the 30-share Sensex shed over 550 points after dragging market by 0.90%.  Domestic equity benchmarks Nifty50 and the S&P BSE Sensex ended at 18,113.05 and 60,754.86 respectively on Tuesday.  

At 3.25 pm, SGX Nifty Futures were trading lower by whooping 227.50 points or 1.24% to 18,122.50 on the Singaporean Exchange.  

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Almost all broader market and sectoral indices ended lower as auto, IT, metal and pharma shares dragged the market the most. Nifty midcap and small cap indices also ende around 2 per cent lower.  

The stocks that declined the most in a weak market on Tuesday were Tata Consumer, Eicher Motors, Maruti, Ultratech Cement, Tech Mahindra, Tata Steel, HCL Tech, IndusInd Bank, Larsen and Toubro and Wipro. 

Axis Bank, HDFC Bank, Nestle India, Dr Reddy's, ICICI Bank and Kotak Bank were among the gainers in an otherwise weak market.