Nifty, Sensex decline on profit-taking; IT, state-owned banks emerge as top drags

Indian shares ended lower on Tuesday, weighed down by information technology and state-owned bank stocks, as investors took profits in overbought shares towards the year-end.

The NSE Nifty 50 index fell 0.68% at 11,856.80 and the S&P BSE Sensex was 0.61% lower at 40,239.88 at the closing bell.

State-owned bank stocks were the day's top laggards with their Nifty index closing down 1.6%. The country's largest lender by assets State Bank of India was 1.11% lower at close.

The Nifty IT index ended 1.39% lower with India's second-most valuable company Tata Consultancy Services dropping by 2.15%.

Yes Bank was the biggest loser among Nifty stocks, shedding 10.4%, while Bajaj Finance was the top gainer, advancing 1.26%.