Sensex tumbles 600 points; Yes Bank, Bajaj Finance shares tank

Bombay Stock ExchangeINDRANIL MUKHERJEE/AFP/Getty Images

Indian shares ended sharply lower on Tuesday, led by a drop in automotive stocks after data showed monthly passenger vehicle sales fell at their worst pace in nearly two decades as the industry goes through a prolonged slowdown.

The broader NSE Nifty ended 1.65 percent lower at 10,925.85, while the benchmark BSE Sensex closed down 1.66 percent at 36,958.16.

The Nifty autos index slid about 4 percent, its worst decline since 2016, as sales of passenger vehicles to car dealers plunged 30.9 percent in July. Shares of top Indian automaker Maruti Suzuki Ltd fell 5 percent.

Shares of oil-to-telecoms conglomerate Reliance Industries Ltd climbed 9.7 percent after it unveiled the sale of a portion of its oil to chemicals business to Saudi Aramco. The Nifty energy index was the only sector to end higher out of 14 sub-indexes, powered largely by Reliance.

Private-sector lender Yes Bank Ltd fell 10.9 percent. The company named a new chief financial officer on Tuesday.

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