The S&P BSE Sensex fell 420 points, or 0.9 per cent, to 47,920 levels, thus giving up the psychological level of 48,000. The Nifty50 index also slipped below the 14,150-mark. Reliance Industries extended Monday’s loss and dropped another 2 per cent. The index-heavyweight was the top Sensex loser, followed by Sun Pharma, IndusInd Bank, and Dr Reddy’s (all down 1%).
All the Nifty sectoral indices, except Nifty IT index, slipped into the red, with Nifty Metal index, down 2 per cent, being the top loser.
In the broader markets, the S&P BSE MidCap and SmallCap indices fell 0.5 per cent and 0.2 per cent, respectively.
Axis Bank, Hindustan Unilever, Bank of Baroda, Marico, Emami and India Cements are among 50 firms set to post their December quarter numbers today. Analysts expect HUL to post double-digit revenue growth on the back of GSK acquisition.
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