Sensex Down 275 Points, Nifty Below 22,350; IIFL Finance Tanks 20%, Tata Motors DVR Up 4%

Equity benchmark indices opened with cuts on Tuesday, tracking losses in global markets. The BSE Sensex fell 270 points to 73,607 and the NSE Nifty slipped 72 points to 22,334.

Power Grid, HCL Tech, TCS, ICICI Bank, L&T, Sun Pharma led losses on the Sensex. On the flip side, Tata Motors, M&M, NTPC, UPL, Apollo Bharti Airtel were among the few frontline gainers.

The broader markets opened tepid. The BSE MidCap and SmallCap indices were nearly flat versus losses in BSE Sensex.

Tata Motors zooms 4%, tops Rs 1,000-mark on demerger proposal

Tata Motors Ltd. has given the green light to a plan to divide the company into two distinct listed entities, one focusing on passenger vehicles and the other on commercial vehicles.