The Sensex dropped more than 200 points in early trade on Tuesday, reflecting losses in index heavyweights HDFC twins, Reliance, and Infosys as profit-taking appeared at higher valuations amid conflicting global cues. The 30-share Sensex and the broader Nifty experienced significant volatility in initial trades.

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In early trade, the 30-share Sensex was trading 212.43 points, or 0.35%, down at 60,399.31. Similarly, the NSE Nifty fell 49.95 points, or 0.28%, to 18,003.45.

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HDFC Bank, HDFC, Kotak Mahindra Bank, Bajaj Finance, State Bank of India, Bajaj Finserv, Nestle India, Axis Bank, Reliance, and ICICI Banks were among the largest laggards in the 30-share group. Tech Mahindra, Titan, HCL Tech, and TCS, on the other hand, were trading in the black.

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Among the Sensex constituents, 17 equities were trading higher, while the remaining 13 scrips, including the HDFC twins, were trading lower. HDFC and HDFC Bank were both down more than 1% at Rs 2,644.30 and Rs 1,634.30, respectively.

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The Sensex rose 1,335.05 points, or 2.25%, to a two-month high of 60,611.74 points on Monday, while the Nifty 50 rose 382.95 points, or 2.17%, to 18,053.40 points.

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The Japanese benchmark Nikkei 225 index was trading marginally down, while Hong Kong’s Hang Seng and South Korea’s Kospi indexes were trading higher. The major US indexes finished the day higher on Monday.

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On Monday, foreign portfolio investors pushed more than Rs 1,150 crore into shares, fueling the market’s rise.

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Meanwhile, Brent crude, the international oil benchmark, rose 1.29% to USD 108.92 a barrel. In early trade, the rupee advances 6 paise to 75.47 against the US dollar.