Sensex drops 109 pts, Nifty slips below 17,900

The broader NSE Nifty fell by 40.70 points or 0.23 percent to 17,888.95. Tata Steel was the top loser in the Sensex pack, shedding around 3 percent, followed by Tech Mahindra, HCL Tech, IndusInd Bank, and Reliance Industries.

Benchmark BSE Sensex declined by 109 points on Tuesday due to losses in index heavyweights Reliance Industries, Tata Steel, and ICICI Bank amid a muted trend in global markets. The 30-share index ended 109.40 points or 0.18 percent lower at 60,029.06. The broader NSE Nifty fell by 40.70 points or 0.23 percent to 17,888.95. Tata Steel was the top loser in the Sensex pack, shedding around 3 percent, followed by Tech Mahindra, HCL Tech, IndusInd Bank, and Reliance Industries.

On the other hand, Maruti, NTPC, Titan, SBI, and L&T were among the gainers. “Succumbing to lackluster global sentiments, domestic indices failed to gain ground oscillating between gains and losses in a rough session, said Vinod Nair, Head of Research at Geojit Financial Services.

Global markets remain jittery ahead of the upcoming Bank of England and Fed meetings where the central banks could cease the pandemic-era stimulus, he added. Elsewhere in Asia, bourses in Shanghai, Hong Kong, and Tokyo ended with losses, while Seoul was positive. Stock exchanges in Europe were largely trading with gains in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 0.02 percent to USD 84.73 per barrel.

PTI