The major stock index Sensex fell by over 300 points in early trade on Tuesday due to negative trends from global markets and outflow of foreign funds, especially selling stocks of Reliance Industries, Bajaj Finance, and Maruti.
During this period, the 30-share BSE Sensex was trading at 37,729.02, down by 055.12 points, or -0.8 percent, while the NSE Nifty was down 97.1 points or 0.86 percent at 11,153.45.
The biggest drop in the Sensex was three percent in Tata Steel. Apart from this, Bajaj Finance, ONGC, Maruti, Bajaj Finserv, M&M, and Titan were also among the falling stocks. On the other hand, HCL Tech, Tech Mahindra, and TCS were trading with gains.
In the previous session, the Sensex was down by 811.68 points or 2.9 percent to close at 38,034.14, while the Nifty was down by 254.450 points or 2.21 percent at 11,25.5.55. Foreign institutional investors sold equities worth Rs 539.81 crore on a gross basis on Monday, according to stock market data.
Traders said markets around the world were witnessing a drop in the news of irregular financial practices in some major international banks and fears of another wave of Coronavirus epidemic in many parts of Europe. Meanwhile, the Shanghai, Hong Kong, and Seoul stock markets were trading with losses. Brent crude, the global oil benchmark, rose 0.27 percent to $ 41.55 a barrel.