India, April 29 -- Stock market benchmark indices Sensex and Nifty buckled under selling pressure on Tuesday as a sharp rally in oil prices and foreign fund outflows dented investors' sentiment.

The 30-share BSE Sensex declined 416.72 points, or 0.54 per cent, to settle at 76,886.91. During the day, it lost 562.57 points, or 0.72 per cent, to 76,741.06.

The 50-share gauge NSE Nifty dropped 97 points, or 0.40 per cent, to end at 23,995.70. From the 30-Sensex firms, Axis Bank, HCL Tech, InterGlobe Aviation, Maruti, State Bank of India and ICICI Bank were among the biggest laggards.

In contrast, Reliance Industries, Bharti Airtel, Tech Mahindra and Sun Pharma were among the gainers.

Brent crude, the global oil benchmark, jumped 2.97 per ...