Mumbai, June 23 -- The domestic equity markets witnessed sharp selling pressure on Tuesday, with both benchmark indices closing more than 1 per cent lower amid a broad-based technology selloff, weakness in global markets and growing concerns over further monetary tightening in the United States.

The Nifty 50 index closed at 23,824.10, down 278.80 points or 1.16 per cent, while the BSE Sensex settled at 76,200.68, losing 893.39 points or 1.16 per cent.

Market experts said the decline was led by technology stocks, while a weaker rupee and concerns over global interest rates further dampened investor sentiment.

Ponmudi R, CEO of Enrich Money, said, "Indian equity markets snapped their recent oil-driven rally and declined sharply alongside...