Sensex drops 250 pts; Tech M down 5%, Mazagon Dock up 6%

Tepid global mood contained market rally on Thursday with the benchmark indices down up to 0.5 per cent in intraday deals.

The S&P BSE Sensex fell 336 points, or 0.47 per cent, to quote at 70,725, while the Nifty50 dipped to 21,392, down 62 points or 0.29 per cent.

Tech M, HCL Tech, Tata Steel, Bhati Airtel, Power Grid, HDFC Bank, Wipro, and Axis Bank were leading the losses today as the shares declined up to 5 per cent.

Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices gained 0.28 per cent and 0.73 per cent, respectively.

Among sectors, the Nifty IT index declined 1 per cent, followed by the Nifty Pharma index (0.54 per cent), and the Nifty Bank (0.4 per cent). On the upside, the Nifty Realty added 1.24 per cent.