Sensex, Nifty declined in early trade after two days of sharp rally

Equity benchmark indices Sensex and Nifty declined in early trade on Tuesday after two days of sharp rally, dragged by IT stocks.

The 30-share BSE Sensex dropped 116.57 points to 85,450.91 in early trade. The 50-share NSE Nifty declined by 27.15 points to 26,145.25.

Market experts said that trading volumes are expected to remain subdued amid the holiday-shortened



week.

From the 30-Sensex firms, Infosys, Tata Consultancy Services, Asian Paints, HCL Tech, Eternal and Bharti Airtel were among the major laggards.

However, Bajaj Finance, Power Grid, UltraTech Cement and Tata Steel were among the gainers.

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index traded in positive territory.