Sensex tumbles 206 points

Benchmark Sensex tumbled 206 points, while the broader Nifty closed below the 9,400-mark on Tuesday as investors booked profits amid volatile global cues in the aftermath of a terror attack in the UK. Pharma index was the worst performer on both the BSE andNSE after weak quarterly results of Sun Pharma's overseas arm Taro Pharmaceuticals -- seen as representative of the vast Indian generics business in the US -- spooked investors. Global cues were negative after at least 22 people were killed and 59 injured when a suicide bomber blew himself up in Manchester -- the deadliest terror attack in the UK since the 7/7 bombings of 2005.

Indian Army carrying out fire assaults on Pakistani posts across the Line of Control (LoC) added to the grim mood, prompting participants to book profits in recent gainers, brokers said.

Investors were also cautious ahead of May series derivative contracts expiry on Thursday. The 30share Sensex resumed lower at 30,553.89 and hovered in a range of 30,610.84 and 30,316.92 before settling at 30,365.25, showing a loss of 205.72 points, or 0.67 per cent. The gauge had gained 136.18 points in the previous two sessions.

The NSE 50-share Nifty also tumbled 52.10 points or 0.55 per cent to 9,386.15, after shuttling between 9,448.05 and9,370. "Investors were cautious due to sudden hike in IndoPak tension. Additionally, higher than expected GST rate especially for consumer oriented durables is impacting the market. "Pharma continued to taste bitterness in earnings due to high competition which is impacting the sentiment of the sector for the long-term," said Vinod Nair, Head of Research, Geojit Financial Services.