BSE Sensex and NSE Nifty domestic equity indices cracked more than 2 per cent during early trade on Tuesday in the midst of heavy sales following a collection of subdued macroeconomic information.

The 30-share Sensex tanked as much as 769 points, while NSE Nifty was trading near 10,800. Going by the buzz on Dalal Street, here are the top domestic factors that have sent the stocks tumbling in early trade.

Macros and Weak core data 

The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) weakened to 51.4 in August, its lowest mark since May 2018, from 52.5 in July.

Official information on Mondays showed that the growth of eight key sectors fell to 2.1 per cent in July, primarily owing to a contraction in coal, crude oil and natural gas manufacturing. And as per the PMI data, showed that the country’s manufacturing sector activity weakened to its 15-month low in August.

FII outflows and Falling rupee

After weak macroeconomic data and constant outflows by the Foreign Portfolio Investors (FPI), the Indian rupee fell by 64 paise to 72 mark against the US dollar during early trades on Tuesday. Despite the government’s decision to roll back the enhanced tax surcharge on FPRs, the month of August witnessed overseas investors offloaded stocks worth a net of Rs 5,920 crore in the domestic market. Whereas, in the previous month, July, they had withdrawn net Rs 2,985.88 crore from Indian stocks.

Q1 GDP print subdued

Market sentiment was affected after information published on Friday’s June quarter GDP showed that the country’s growth rate fell for the fifth consecutive quarter to reach a 5 per cent over six-year low. According to an economist of ICICI Bank NSE -4.43 per cent, the expected GDP print stated that the slowdown is likely to spread more, underscoring the need for a balanced monetary and fiscal policy actions.

Auto sales of august showed loss

Most of the auto inventory traded during the red following subdued automobile sales numbers for August. Tata Motors, Eicher Motors NSE -3.01%, Mahindra & Mahindra, Ashok Leyland NSE 2.61 % and Maruti Suzuki slipped up to 2.61 per cent. While Maruti reported a 33 per cent decrease in August sales at 1,06,413 units, the sales of Tata passenger vehicles fell by 58 per cent.

(With inputs from agencies)