Sensex drops 200 pts; Nifty below 24,200; Nifty PSU Bank tumbles 1%

The Nifty50 and the Sensex were trading on a mixed note as oil prices declined, while traders await details of Washington’s plan to impose sanctions on Iran.

As of 12:00 PM, the Sensex fell 191.56 points or 0.25 per cent to 77,349.27 and the Nifty50 was down 60.15 points or 0.25 per cent at 24,191.85.

State Bank of India (SBI), Bharat Electronics (BEL), and Adani Ports and Special Economic Zone were the top losers in the Nifty50 index.

In the broader markets, the Nifty MidCap and the Nifty SmallCap were trading 0.34 per cent and 0.35 per cent higher, respectively.

Sector-wise, the Nifty IT and the Nifty Media outperformed, while the Nifty Pharma and the Nifty Healthcare underperformed.