Sensex Ends Over 88 Points Lower, Nifty Slips Over 17 Points

Mumbai: Sensex ended 87.66 points down at 28,091.42 on Tuesday while Nifty fell 17.65 points to 8,691.30.

Markets opened with benchmark Sensex fell over 91 points on Tuesday morning as Tata group stocks pulled down the index after Cyrus Mistry was replaced as its chairman yesterday, amid mixed Asian cues.

Brokers said sentiment was downbeat after Mistry was removed as chairman of India's largest conglomerate Tata Group and replaced by his predecessor Ratan Tata in the interim, a development that can trigger a confrontation between the single-largest shareholder and the company's founding family.

Major Tata group stocks such as Tata Steel, Tata Communications, Tata Steel, Tata Motors, Tata Power, Tata Chemicals and TCS all bore the brunt and fell by up to 3 per cent on Tuesday.