Sensex Falls Over 500 Points, Nifty Trades Below 16,450; IT, Consumer Durables Stocks Drag

Indian equity benchmarks on Tuesday traded lower in opening deals, dragged by information technology and consumer durables stocks.

Trends on the Nifty Futures on Singapore Exchange (SGX Nifty) indicated a gap-down start for the domestic indices.

The 30-share BSE Sensex slipped 521 points or 0.94 per cent to 55,154, while the broader NSE Nifty moved 127 points or 0.77 per cent down to trade at 16,442.

Mid- and small-cap shares were negative as Nifty Midcap 100 fell 0.63 per cent and small-cap shed 0.62 per cent.