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Sensex, Nifty fall sharply; ITC stocks tank 14 %
On Tuesday, Sensex and Nifty saw a major downturn in early trade as both the indices were losing above 0.50 per cent. Analysts owed profit booking along with weak global and Asian cues for the sharp dip in numbers. In early trade, ITC crumbled nearly 14 per cent as brokerage houses downgraded the stock after the Goods and Services Tax (GST) Council decided to increase the cess on cigarettes. Other stocks like Godfrey Phillips and VST Industries also caught in bear grip.
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