Sensex and Nifty settled on a lower note today.New Delhi: Indian equity benchmarks on Tuesday extended their fall for the second straight session as investors awaited the retail inflation data, scheduled to be released later in the day. The inflation print is expected to stay above Reserve Bank of India’s (RBI’s) upper tolerance limit of 6 per cent for the sixth consecutive month.On the global front, U.S. stock futures were down ahead of the U.S. consumer price index (CPI) reading, due on Wednesday. An uptick in inflation figure suggests more aggressive policy tightening from the central banks.Moreover, stocks in Asia were weak due to Covid-19-led shutdowns in multiple Chinese cities.Back home, the 30-share BSE Sensex fell 509 points or 0.94 per cent to close at 53,887, while the broader NSE Nifty moved 158 points or 0.97 per cent lower to settle at 16,058.Mid- and small-cap shares finished on a weak note as Nifty Midcap 100 slipped 0.45 per cent and small-cap shed 0.42 per cent.14 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in the red. Sub-indexes Nifty Auto, Nifty IT, Nifty Metal and Nifty FMCG underperformed the NSE platform by falling as much as 1.18 per cent, 1.16 per cent, 1.22 per cent and 1.14 per cent.However, Nifty Realty edged 0.10 per cent higher.On the stock-specific front, Eicher Motors was the top Nifty loser as the stock cracked 3.34 per cent to Rs 2,945.15. Hindalco, Infosys, BPCL and Grasim Industries were also among the laggards.The overall market breadth stood negative as 1,481 shares advanced while 1,816 declined on BSE.On the 30-share BSE index, Infosys, Nestle India, HCL Tech, PowerGrid, Hindustan Unilever, M&M, Kotak Mahindra Bank, Asian Paints, IndusInd Bank, Titan, UltraTech Cement and ICICI Bank were among the top losers with their shares down as much as 2.33 per cent.Further, shares of Life Insurance Corporation of India (LIC), the country’s biggest insurer and largest domestic financial investor, fell 0.15 per cent to end at Rs 717.30.In contrast, NTPC, Bharti Airtel and Bajaj Finance finished in the green.