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Sensex and Nifty dropped in early morning trade on Tuesday, as heavyweight financial stocks slipped, while fresh inflation worries due to rising global crude prices also weighed on sentiment.

The equity benchmark S&P BSE Sensex fell 0.34 per cent or 203.63 points to 60,408.11, the NSE Nifty 50 index was down 0.34 per cent or 61.35 points at 17,992.05.

The Nifty bank index fell 0.7 per cent, while the finance index dropped 0.84 per cent. Both the indexes had gained more than 4 per cent on Monday.

Brent crude prices jumped on persistent supply worries globally, lifting Oil and Natural Gas Corp up 1.7 per cent.

Power Grid and NTPC Ltd gained 1 per cent each on rising power demand due to hotter weather.

On Monday, the Sensex vaulted 1,335 points while the Nifty shot past the 18,000-mark, fuelled by index heavyweights HDFC twins which soared almost 10 per cent after announcing corporate India’s biggest merger.

The 30-share BSE Sensex darted up 1,335.05 points or 2.25 per cent to close at an over two-month high of 60,611.74. Likewise, the broader NSE Nifty jumped 382.95 points or 2.17 per cent to 18,053.40.

Author

India today