Sensex tanks nearly 504 pts, Nifty slips to 26,032

Stock markets declined on Tuesday, with the benchmark Sensex tumbling nearly 504 points due to selling in blue-chip bank stocks and Reliance Industries, and persistent foreign fund outflows.Photograph: Shailesh Andrade/ReutersFalling for the third straight session, the 30-share BSE Sensex tumbled 503.63 points or 0.59 per cent to settle at 85,138.27.During the day, the benchmark tanked 588.9 points or 0.68 per cent to hit a low of 85,053. The index had scaled a record high level in intra-day trade in the pr ...