Nifty drops further by 143.80 pts at 3,896.75

The market declines three days in a row due to record high oil prices, surging inflation, rising interest rates and political uncertainty
Mumbai: The S&P CNX Nifty on Tuesday dropped further by 143.80 points to end 3,896.75 the National Stock Exchange (NSE) on all-round heavy selling pressure from investors on the back weak European cues.The market extended the decline for a third day in a row as the market sentiment remained edgy due to record high oil prices, surging inflation, rising interest rates and political uncertainty.
European markets tumbled by 1.3 per cent to 2.4 per cent in their early trade this afternoon.The 50-issue Nifty moved in a range of 4,075.40 and 3,878.20 before concluding the day at 3,896.75, a net fall of 143.80 points or 3.56 per cent over previous close of 4,040.55.As many as 1,118 shares declined, 112 advanced and 18 ruled steady with 172 securities have hitting their price bands.The CNX Nifty Junior declined sharply by 316.45 points to 5,916.75, the Bank Nifty by 294.20 points to 4,732.85, the CNX Midcap by 245.90 points to 4,992.95, the S&P CNX Defty by 148.15 points to 3,110.40, the CNX 100 by 144.00 points to 3,682.25, the S&P CNX 500 by 127.55 points to 3,075.80, the Nifty Midcap-50 by 109.05 points to 1,847.80 and the CNX IT by 92.95 points to 3,906.45.Top Five S&P CNX Nifty losers were RCOM, Relinfra, Suzlon, M&M and SBI.
While, gainers were HCL-Tech, Tata Comm and NTPC.Total turnover on NSE was firmed up to Rs 12,072.33 crore from Rs 11,450.59 crore on Monday. A total of 5,825.09 lakh shares changed hands in 55,91,787 trades. Total market capitalisation stood at Rs 39,36,029 crore.