Sensex drops 196 points; Nifty slips below 17,000-mark

Fairness benchmark Sensex dropped 196 factors on Tuesday, hit by fag-end promoting in auto and steel shares following sluggish investor sentiment in world markets.

The promoting stress was triggered after European markets opened within the adverse territory amid issues over the Omicron variant of the coronavirus, merchants mentioned.

After rallying over 900 factors, the 30-share BSE index surrendered all beneficial properties to settle 195.71 factors or 0.34 % decrease at 57,064.87.

Equally, the NSE Nifty declined 70.75 factors or 0.41 % to shut under the 17,000-mark at 16,983.20.

Tata Metal was the highest loser within the Sensex pack, shedding round 4 %, adopted by Kotak Financial institution, Bajaj Auto, M&M, Bharti Airtel, Reliance Industries, IndusInd Financial institution and Maruti.

Then again, PowerGrid, Titan, Bajaj Finserv, Nestle India and Bajaj Finance have been among the many gainers.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo ended with losses, whereas Shanghai was optimistic. Inventory exchanges in Europe have been within the purple in mid-session offers.

In the meantime, the rupee closed 10 paise decrease at 75.17 (provisional) in opposition to the U.S. greenback.

Worldwide oil benchmark Brent crude tumbled 3.12 % to $ 71.15 per barrel.

International institutional traders remained internet sellers within the capital market on Monday, as they offloaded shares price ₹ 3,332.21 crore, in accordance with trade knowledge.