Sensex falls 250 points as more stocks decline midmorning Tuesday
Business
Markets took a dip on Tuesday after a strong morning, with the Sensex falling 250 points from the day's high and was at 72,354.28 at 10:40am.
The Nifty hovered just below 22,500.
Out of nearly 3,700 stocks traded by midmorning, more were losing ground than gaining.
Experts say Nifty needs 22,600
Rising oil prices (over $105 a barrel) and higher retail inflation (now at 5.54%) have investors worried about possible interest rate hikes.
Experts say the Nifty needs to break past 22,600 for any real recovery, so everyone's watching those levels closely as global and local uncertainties continue.