Equity benchmark Sensex declined over 70 points in early trade on Tuesday, tracking losses in index heavyweights Infosys, ICICI Bank and TCS amid foreign fund outflows.

The 30-share Sensex was trading 79.69 points or 0.14 per cent lower at 58,217.22. Similarly, Nifty fell 26.30 points or 0.15 per cent to 17,351.50 in initial deals.

Axis Bank was the top loser in the Sensex pack, shedding nearly 1 per cent, followed by Sun Pharma, Infosys, ICICI Bank, SBI, and Kotak Bank. Meanwhile, TCS slipped 0.26 per cent.

On the other hand, Asian Paints, ITC, Nestle India, Tata Steel, HUL and Maruti were among the gainers.

In the previous session, the 30-share index advanced 166.96 points or 0.29 per cent to its new closing record of 58,296.91. It touched an all-time high of 58,515.85 during the session.

Similarly, the broader NSE Nifty climbed 54.20 points or 0.31 per cent to its fresh lifetime peak of 17,377.80. During the session, it surged to a record 17,429.55.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 589.36 crore on Monday, as per provisional exchange data.

Meanwhile, the Union Health Ministry has declared that the number of active Covid-19 cases in India currently stands at 3,92,864. A single-day rise of 31,222 new cases and 290 fatalities has pushed the country's infection tally to 3,30,58,843, and death toll to 4,41,042.

In Asia, bourses in Shanghai, and Hong Kong were trading with significant gains in mid-session deals, while Seoul was in the red. Tokyo closed in the green.

US equities ended mixed in the overnight session.