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Sensex, Nifty edge lower; IT, banking stocks among top drags



Indian equity benchmarks mirrored the fall in global markets on Tuesday with the Sensex falling 172 points and the Nifty 50 index touching a low of 17,640. Asian stocks took heavy losses on Tuesday after a broad sell-off on Wall Street as markets worried about the impact of multi-year high oil prices at a time when supply chain disruptions were already straining economic activity. .

As of 9:21 am, the Sensex was down 101 points at 59,198 and the Nifty 50 index was down 12 points at 17,679.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell as much as 1.3 per cent, falling for the third consecutive session. Japan’s shares were down 2.8 per cent, South Korea 2.5 per cent and Australia 1 per cent. The fall in the markets took MSCI’s main benchmark to 619.87, the lowest since November 2020. It has fallen more than 5 percent this year, with Hong Kong and Japanese markets taking major losses.


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