Sensex and Nifty dipped over 0.3% each on Tuesday as PSU bank and midsmall IT and telecom stocks dragged the indices down. Sensex fell nearly 550 points from the day's high to end just above 82,000 while Nifty tumbled 165 points from the day's high and closed at 25,145.50. This comes despite gold prices hitting record highs on Tuesday.