Amid bearish global markets, stock indexes fell for a second session on Tuesday as investors continued to sell information technology (IT), banking and fast-moving consumer goods (FMCG) stocks.

Traders said foreign capital outflows continued unabated, with the rupee slumping to a record low against the dollar, exacerbating the woes.

Participants were also on the sidelines ahead of Tuesday’s data on retail inflation and factory output.

The 30-share BSE Sensex opened weaker, down 508.62 points, or 0.94%, to 53,886.61. The broader NSE Nifty was down 157.70 points or 0.97% at 16,058.30.

Infosys was the biggest laggard in the Sensex sector, down 2.33%, followed by Nestle India, PowerGrid, HUL, M&M, HCL Tech and Kotak Mahindra Bank. Only three counters closed in green – NTPC, Bharti Airtel and Bajaj Finance rose to 1.87%.

“Fears of rate hikes in global markets are back in focus ahead of CPI data. Inflationary pressures coupled with strong US jobs data will see the Fed continue to hike rates aggressively. Crude oil trades on demand concerns amid a rebound in virus cases in China Lower,” said Vinod Nair, head of research at Geojit Financial Services.

The BSE small-cap and mid-cap indices lost 0.52% and 0.51% on the broader market.

In the BSE Sector Index, IT fell 1.29%, followed by Teck (1.21%), Metals (1.16%), Auto (1.13%), FMCG (1.03%), Bank (0.94%), Consumer Discretionary and Services (0.93%) and capital goods (0.91%).

Telecoms, utilities, power and the real estate closed higher. Global stock markets were under pressure as concerns revived over central bank tightening and its impact on global growth.

Elsewhere in Asia, markets in Shanghai, Tokyo, Seoul and Hong Kong closed lower. European stocks were also lower in afternoon trade. Wall Street closed in losses on Monday.

Meanwhile, Brent crude, the international oil benchmark, fell 2.37% to $104.6 a barrel.

According to exchange data, foreign institutional investors remained net sellers on Monday as they dumped stocks worth Rs 170.51 crore.