Markets pare gains, Sensex falls over 270 points

New Delhi: Markets shed its opening gains on Tuesday with both equity indices falling over 0.7 percent in late morning trade.

The BSE Sensex fell 277.51 points or 0.73 percent to 37,756.63 in late morning trade while the NSE Nifty dropped 106.35 points or 0.95 percent to 11,144.20.

Major losers in the Sensex pack were Maruti, Bajaj Finance, ONGC, Tata Steel, RIL, Ultrachem, NTPC, Powergrid, Asian Pain, HUL, M&M, and Bajaj Finserve, falling upto 3 percent. On the other hand, major gainers were HCL Tech, ICICI Bank, TCS, IndusInd Bank, Sun Pharma and Axis Bank, rising upto 1.25 percent.

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Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan was down 0.5%. Australia`s S&P/ASX 200 dropped 0.7% pressured by miners and energy stocks, while China`s blue-chip index shed 0.1% and Hong Kong`s Hang Seng index  was down 0.5%. Japanese markets were closed for a public holiday. After-hours trade pointed to further selling pressure on Wall Street on Tuesday, with S&P 500 futures down 0.2% in early Asia and Nasdaq 100 futures off 0.4%, a Reuters report said.

The Rupee meanwhile fell 13 paise to 73.51 against US dollar in early trade.

In the previous session on Monday, the BSE index tanked 811.68 points or 2.09 percent lower at 38,034.14. The NSE Nifty tumbled 254.40 points or 2.21 percent to finish at 11,250.55.