The Bombay Stock Exchange Sensex on Tuesday tanked 118.93 points from its close on Monday to end the day at 31,190.56 points.

The BSE Sensex had begun the day with a strong rally, opening 111.36 points above Monday’s close at 31,420.85, and then moved up to a record high of 31,430.32 before declining slowly throughout the day to reach 31,190.56 points when markets closed.

The Nifty too began the day at an all-time high of 9,704.25 points, but declined throughout the day to finish at 9,637.45 points, 37.65 points or 0.37% below its Monday’s close of 9,675.10.

The markets declined on Tuesday due to the influence of a negative trend in global markets following the diplomatic cut-off of Qatar by other Arab countries. The coming testimony of the former FBI director James Comey, British elections on June 8 and a European Central Bank meeting also contributed to the fall in share markets, said Livemint.

Moreover, a Reserve Bank of India policy meeting on Wednesday, at which interest rates are expected to be kept unchanged, may also have subdued market sentiment.

The top gainer at the BSE on Tuesday was Tata Consultancy Services, whose stocks closed 3.63% up at Rs 2,695.40 per share. The next four biggest gainers were Infosys (2% gain), Wipro (0.91% gain from Monday’s close), Dr Reddy’s Labs (0.61% gain from Monday’s close to finish at Rs 2,550.35, and Adani Ports (0.26% gain to finish at Rs 361.85). The top five losers were Tata Motors (3.58% loss to finish at Rs 460.90 per share), NTPC (2.65% loss), ONGC (2.28% loss) and ITC (2.05% loss to close at Rs 311 per share).

At the NSE Nifty50, the top five gainers were HCL Tech (3.58% gain to close at Rs 889.45 per share), TCS (3.54% gain), Infosys (2.15% gain to close at 979.35), Tech Mahindra (1.46% gain) and Wipro (0.90% gain). The top five losers were Tata Motors (3.59% loss to finish at Rs 461 per share), NTPC (2.77% loss), Indiabulls Housing Finance (2.71% loss), Tata Motors DVR (2.62% loss) and ONGC (2.45% loss to finish at Rs 171.45 per share).

In morning trade, the Indian rupee gained 4 paise against the US dollar to open at Rs 64.32.