Sensex, Nifty tank 1% after record-breaking rally as US inflation data play spoilsport

The 30-share BSE Sensex tanked 793.25 points or 1.06% to settle at 74,244.90 with 27 of its components in the red. During the day, it dropped 848.84 points or 1.13 per cent to 74,189.31. The NSE Nifty declined 234.40 points or 1.03 per cent to close at 22,519.40 with 45 of its constituents ending lower.

From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.

On the global front, Asian shares were mostly lower as inflation concerns weighed on

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