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Indian market: Sensex drops 700 points

India Blooms 2019-09-17 17:32:50

Mumbai, Sept 17 (IBNS):  Indian equity markets witnessed dramatic losses on Tuesday when S&P BSE Sensex index moved down by as much as 698 points to touch 36,425.

As per latest figures, the Sensex moved down by 594 points to reach 36529.11.

NSE Nifty 50 benchmark slipped 173.20 points to reach 10830.30.

At one point in the day, the NSE Nifty had dropped by 199 points.

"Markets are falling on the back of rising crude oil, depreciation in rupee against the dollar and weakness in index heavyweights like HDFC and HDFC Bank," Sumeet Bagadia, executive director at Choice Broking, told NDTV.

"Some more correction can be expected and Nifty can go down to 10,800-10,750 levels and Bank Nifty can fall to 27,000-26,800 levels," he added.