The benchmark index of Bombay Stock Exchange (BSE), Sensex has dropped 250 points at 37,250 points. The Sensex gave up early gains on Tuesday amid a selloff across sectors barring the information technology shares. In the opening deals, the S&P BSE Sensex rose as much as 109 points to move above 37,500, but soon erased gains owing to weakness in heavyweights like ICICI Bank, Reliance Industries, ITC and IndusInd bank. Meanwhile, the benchmark index of National Stock Exchange, Nifty Index briefly fell around 50 points and dragged the index below important psychological level of 11,000 to 10,994.
Top losers were Yes Bank, Indiabulls Housing Finance, IndusInd Bank, Britannia, Bajaj Finance, ICICI Bank, UltraTech Cement and ITC, trading between 1.79 per cent and 4.89 per cent lower. The gainers were Infosys, Wipro, TCS and Dr Reddy's which all moved up between 0.77 per cent and 2.36 per cent. Market breadth favoured declines, with 623 stocks rising on the BSE and 1,041 struggling with losses. On the NSE, 514 stocks advanced while 1,093 declined.