Indian equity markets fell for a third straight session on Tuesday, with heavyweight selling in IT and healthcare dragging the benchmarks lower.

The BSE Sensex slipped 48.78 points, or 0.07 percent, to close at 72,480.29, while the NSE Nifty declined 95.75 points, or 0.42 percent, to end at 22,620.45. The three-day slide has wiped out nearly 11.55 lakh crore rupees in investor wealth, as measured by the market capitalisation of BSE-listed companies.

Sentiment remained fragile on persistent foreign fund outflows. Foreign institutional investors have sold Indian equities worth 25,662 crore rupees in September, NSDL data showed, with the selling accelerating through the month. Global headwinds added to the gloom: the US 10-year Treasury yield touched 5.24 percent, its highest since 2007, making emerging markets less attractive.

Healthcare stocks were among the biggest losers after the Supreme Court suggested capping margins on cancer drugs, with hospital stocks such as Apollo, Max Healthcare and Fortis dropping between 5 and 7 percent. Analysts said markets are likely to stay volatile until foreign selling eases and global bond yields cool, with traders watching the rupee and upcoming corporate earnings for direction.