Sensex drops 100 pts; Nifty Metal falls 1% as Hindalco, Tata Steel weigh

The Nifty50 and the Sensex declined slightly as global equities fell ahead of earnings from chip giant Nvidia Corp on concern for artificial intelligence (AI) expansion outlook.

As of 11:00 AM, the Sensex fell 127.97 points or 0.17 per cent to 77,241.14 and the Nifty was down 71.50 points or 0.3 per cent at 24,147.55.

Cipla, Hindalco Industries, and Tata Consumer Products were the top losers in the Nifty50 index.

In the broader markets, the Nifty MidCap and the Nifty SmallCap fell 0.18 per cent and 0.35 per cent, respectively.

Sector-wise, the Nifty Metal and the Nifty Auto declined the most, while the Nifty IT Aand the Nifty PSU Bank rose the most.