Markets open down, indices drop gain

Sensex was trading over 350 points lower at 73,542

Mumbai:  Indian benchmark indices erased early gains on Tuesday, weighed by HCLTech, ICICI Bank, HDFC Bank, and Reliance Industries.

The S&P BSE Sensex was trading over 350 points (0.6 per cent) lower at 73,542, while the Nifty50 was trading over 100 points (0.6 per cent) lower at 22,300 levels..

Hindustan Unilever, Nestle, ITC, Kotak Bank, and LT were the only gainers on the 30-sock index, while losers were led by HCL Tech, JSW Steel, Power Grid, ICICI Bank, HDFC Bank, Reliance Industries, NTPC, and IndusInd Bank.

In the broader markets, Nifty MidCap, and SmallCap indices were down over 1 per cent each.

Sectorally, barring the Nifty FMCG index, all other indices were trading nearly 1 per cent lower each.