Infosys leads slide in IT stocks as indices lose 1%, follow global trend

Equity indices nursed losses for the second consecutive session on Tuesday as investors continued to dump information technology (IT), banking and fast-moving consumer goods (FMCG) stocks amid a bearish trend in global markets.

Unabated foreign fund outflows and the rupee dropping to another record low against the dollar added to the woes, traders said.

Participants were also in wait-and watch mode ahead of the Tuesday release of retail inflation and factory output data.

The 30-share BSE Sensex opened on a weak note and fell 508.62 points or 0.94 per cent to end at 53,886.61. The broader NSE Nifty declined 157.70 points or 0.97