At close, the Sensex was down 709.17 points or 1.26% at 55,776.85, and the Nifty was down 208.30 points or 1.23% at 16,663. About 1296 shares have advanced, 2014 shares declined, and 95 shares are unchanged. Hindalco Industries, ONGC, Tata Steel, Coal India and JSW Steel were among the top Nifty losers, while gainers were Tata Consumer Products, M&M, Cipla, Shree Cements and Maruti Suzuki.