Sensex Drops Again, Sheds 1,100 Points In 2-trading Sessions

The Sensex fell for the second straight trading day in a row on Tuesday by nearly 300 points, adding to the 800 points fall seen on Monday.

Global markets did see some recovery with the European markets up nearly 1 per cent, after a 4 per cent carnage seen on Monday. Dow Futures were also pointing to a slightly higher openings for the US markets, but, sentiments across the Indian markets continued to remain weak.

The Sensex ended the day lower by nearly 300 points, while the Nifty lost 97 points to end the day 11,153 points.

TCS was among the top gainers in trade today rising more than 2 per cent after the company expanded its partnership with Morrisons - a leading supermarket chain in the U.K., through a five-year contract for application management services, data services and cyber security services.

The Media index was one of the worst performing indices in trade today with stocks like TV Today, Zee Entertainment falling more than 6 per cent. Other media stocks that fell were Hathway Cable and Datacom and TV 18 broadcast. Banking stocks saw relatively lesser damage in trade today with ICICI Bank and State Bank of India among the stocks that managed to hold.

Heavyweight Reliance Industries was one of the stocks that managed to pull the indices lower with a near 2 per cent loss.

Not surprisingly, software stocks had another good day in trade with TCS, Tech Mahindra and HCL Tech among the winners from the Nifty pack.