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Markets decline in initial trade dragged by foreign fund outflows, weak global trends

Benchmark indices Sensex and Nifty declined in early trade on Tuesday amid persistent foreign fund outflows, and weak trends in the global markets. Selling in IT stocks also dampened investor sentiments. The 30-share BSE benchmark Sensex tanked 468.14 points to 77,779.99 in initial trade. The NSE Nifty dropped 117.05 points to 23,527.85.