Sensex tanks 414 points, Nifty slips below 10,050 on profit-booking

Equity benchmark Sensex tanked over 400 points on Tuesday to close below 34,000-mark after profit-booking started following days of positive turn. 

After jumping over 150 points in the opening trade on optimism over reopening of the economy and unabated foreign fund inflows, the Sensex closed 413.89 points or 1.20% lower to close at 33,956.69. In a highly volatile day, it reached a high of 34,811.29 and the low of 33,881.19. 

Similarly, NSE Nifty slipped 120.80 points or 1.19% to end at 10,046.65. 

ICICI Bank was the top laggard in the Sensex pack, falling over 3%, followed by Bharti Airtel, HDFC Bank, Bajaj Finance, Kotak Bank and Axis Bank. IndusInd Bank, Sun Pharma, M&M, HDFC, ITC and Asian Paints were among the gainers.

In the Nifty pack, ICICI Bank, Wipro, Gail, Tata Motors and BPCL were the top losers while Dr Reddy's, IndusInd Bank, Sun Pharma and M&M were among the gainers.

In the previous session, the BSE barometer settled 83.34 points, or 0.24%, higher at 34,370.58, and the broader Nifty closed 25.30 points, or 0.25%, up at 10,167.45.

Foreign institutional investors have shown great confidence in the Indian capital market. On a net basis, equities worth Rs 813.27 crore were bought by FIIs on Monday. 

The data available till June 5 showed that equities worth Rs 15,620 were bought by FIIs in June. Experts had warned of profit-booking by investors.