Sensex Falls Over 200 Points, Nifty Below 6,650

The BSE Sensex and the broader Nifty are down on increasing caution over slowing foreign portfolio investments. Overseas investors sold index futures worth Rs 444 crore on Tuesday, resuming their five-day selling streak after a one-day halt on Monday.

Foreign institutional investors bought Indian shares worth Rs 45.9 crore on Tuesday, lower than the five-day average, provisional exchange data shows, on increasing caution ahead of the election results on May 16.

ICICI Bank fell 0.4 per cent while Hindalco Industries is down 2.9 per cent.

Infosys slumped 3.4 per cent after UBS downgraded the stock to "sell" from "buy" and cut its target price to Rs 2,750 from Rs 4,050, saying a turnaround at the IT outsourcer could take longer than expected.

The Sensex was down 204 points while the Nifty was trading 67 points lower as of 3:08 p.m.ps below 6,650 as selling picks up on Dalal Street.


(With inputs from Reuters)