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India Today
Nifty 50 index fell 0.55 per cent or 89.55 points to 16,125.15 at close, and the S&P BSE Sensex was down 0.43 per cent or 236.00 points at 54,052.61.
The Sensex and Nifty settled lower for a second straight session on Tuesday, pressured by losses in IT heavyweights, while sugar companies plunged on media reports that the world's biggest producer planned to curb sugar exports.
The NSE Nifty 50 index fell 0.55 per cent or 89.55 points to 16,125.15 at close, and the S&P BSE Sensex was down 0.43 per cent or 236.00 points at 54,052.61, tracking weakness in the broader market.
Sugar manufacturers including Dhampur Sugar Mills, Balrampur Chini, Dalmia Bharat Sugar and Industries and Shree Renuka Sugars dropped between 5 per cent and 7.7 per cent.
India planned to restrict sugar exports for the first time in six years to prevent a surge in domestic prices, a government source told Reuters on Tuesday.
Domestic equities have fallen more than 5 per cent so far this month as global equities have been under pressure from the Russia-Ukraine conflict, prospects of bigger interest rate hikes by central banks to contain surging inflation, and the supply chain crisis that has been worsened by China's zero-covid policy.
On Tuesday, Nifty IT fell 1.88 per cent and was the top loser among other sub-indexes, with Infosys, Tata Consultancy Services and Wipro falling over 1 per cent each.
Among gainers, shares of SoftBank Group backed Delhivery closed 10 per cent higher in market debut.
