Markets fall for fourth day on the trot; Sensex sinks below 58,000

Mumbai (PTI): Benchmark BSE Sensex declined nearly 340 points to close below the 58,000 level on Tuesday, marking its fourth straight day of losses as auto, IT and financial stocks wilted amid concerns over the fallout of failure of two US-based banks.

The 30-share BSE Sensex fell 337.66 points or 0.58% to settle at anew five month low of 57,900.19. The broader NSE Nifty declined 111 points or 0.65% to end at a five-month low of 17,043.30, with 38 of its scrips ending in the red.

M&M was the biggest loser in the Sensex pack, declining nearly 3 per cent, followed by TCS, Bajaj Finance, Wipro, Kotak Bank, Tech Mahindra, HCL Tech and Tata Motors.