Sensex drops 330 points, Nifty settles below 23,350 dragged by IT stocks

Benchmark indices Sensex and Nifty ended lower on Tuesday despite a positive trend in global markets and easing crude oil prices, dragged by IT, financials and capital goods stocks. The 30-share BSE Sensex declined 329.91 points, or 0.44 per cent, to settle at 74,529.08. During the day, it lost 435.28 points, or 0.58 per cent, to 74,423.71.

The 50-share NSE Nifty ended 85.30 points, or 0.36 per cent, lower at 23,329, snapping a four-day rally.  Among the 30 Sensex firms, Bajaj Finserv, Trent, Bajaj Finance, State Bank of India, Sun Pharma and UltraTech Cement were the major laggards.

Eternal, Interglobe Aviation, Titan and Tata Steel were among the winners. Brent crude, the global oil benchmark, declined 1.67 per cent to USD 98.66 per barrel.

Indian equity benchmarks ended lower on Tuesday, with domestic sentiment remaining weak despite a more supportive global backdrop.