Sensex Falls Over 250 Points in Early Trade; Nifty Drops Below 11,300

In the previous session, Sensex ended 51.88 points or 0.14 per cent lower at 38,365.35; while the NSE Nifty slipped 37.70 points or 0.33 per cent to 11,317.35. Exchange data showed that foreign institutional investors sold equities worth Rs 1,056.52 crore on a net basis on Tuesday.

Domestic equities opened on a negative note tracking weak cues from global equities after late-stage studies of AstraZeneca’s COVID-19 vaccine candidate were put on temporary hold, traders said. The company is in the process of investigating whether a recipient’s “potentially unexplained” illness is a side effect of the shot.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with intense losses in mid-session deals. Stock exchanges on Wall Street witnessed massive selloff in overnight sessions.

Global oil benchmark Brent crude was trading 0.90 per cent lower at USD 39.42 per barrel.