MARKET LIVE: Sensex down 300pts, Nifty below 17,200; Broader indices outrun- QHN

Frontline indices Nifty50 declined over 50 points to trade below 17,200 levels and the S&P BSE Sensex fell 200 points to hit a low of 57,770 levels.

The broader markets, however, steered southwards as Nifty MidCap 100 and Nifty SmallCap 100 climbed up to 0.4 per cent.

All sectors swung between gains and losses, as Nifty IT, Nifty Media, and Nifty Metal indices gained marginally in trade. Nifty Bank, Nifty Realty, Nifty Auto indices, however, declined up to 0.4 per cent.

While IT names like Wipro, HCL Technologies, Infosys, attempted to trim losses for the benchmark indices; Dr Reddy’s, Hindustan Unilever, and Asian Paints contributed to the sharp cuts.

Among individual stocks, shares of Tata Consultancy Services (TCS) gained marginally in a weak market on Tuesday after the company clocked 8 per cent net profit in Q2FY23.

Besides, shares of Panacea Biotec rallied 20 per cent to hit upper circuit after the company bagged Easyfive-TT vaccine supply order worth $127.3 million.