Sensex drops over 600 points dragged by IT stocks, rising crude oil prices

Foreign Institutional Investors (FIIs) bought equities worth Rs 4,240.39 crore on Tuesday, according to exchange data.

In Asian markets, South Korea’s Kospi, Japan’s 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were trading higher. The Kospi surged 6.11 per cent.

The US markets ended higher on Tuesday.

“Indian equities are likely to remain cautious ahead of the US Federal Reserve’s policy decision, with investors also tracking movements in global markets and energy prices. WTI crude continues to trade around USD 100–101 a barrel, keeping concerns over sustained cost pressures and the broader economic outlook in focus,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.

On Tuesday, the Sensex dipped 8.08 points, or 0.01 per cent, to settle at 73,598.67. The Nifty skidded 3.45 points, or 0.02 per cent, to end at 22,749.75.