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Markets fall for 3rd day; Sensex drops over 220 points, Nifty slips below 11,500

Analysts also believe that expectations ahead of the June quarter earnings season starting today is also keeping the investors cautious.

Markets fall for 3rd day; Sensex drops over 220 points, Nifty slips below 11,500

New Delhi: Markets continue to fall for the third day with Nifty slipping below soon after 11,500 in opening trade and Sensex falling over 220 points on Tuesday on poor investor sentiment on followed by Union Budget proposals tracking weak global cues.

Analysts also believe that expectations ahead of the June quarter earnings season starting today is also keeping the investors cautious.

However, in early trade the BSE Sensex was down by 116.71 points or 0.30 percent to 38,603.86 while the NSE Nifty was down 34.75 points or 0.30 percent to 11,523.85.

Major losers in the Sensex pack were Asian Paint, HDFC, TCS, HUL, Kotak Bank, HDFC Bank, Tech Mahindra, ITC and Infosys, falling upto 1.95 percent. While shares of Yes Bank, LT, Sun Pharma, Heromoto Corp, ONGC, IndusInd Bank, Vedanta, Tata Steel, Tata Motors, Power grid, RIL, and Bajaj Finance rose upto 3.44 percent.

In the previous session on Monday, the BSE Sensex fell 792.82 points or 2.01 percent to 38,720.57 while the NSE Nifty closed 252.55 points or 2.14 percent to 11,558.60.

Among Asian peers, MSCI`s broadest index of Asia-Pacific shares outside Japan ticked up 0.1% in early trade, after falling 0.6% the previous day. Japan`s Nikkei rose 0.5% thanks in part to the yen`s retreat against the dollar. On Wall Street, the S&P 500 lost 0.48% while the Nasdaq Composite dropped 0.78%, a Reuters report said.

With Agency Inputs