The markets in India dropped over 1 percent in today's(26th Feb.2021) morning deals, tracking a similar feeble trend in the global markets amid continued sell-off in bond markets. Volatility index, India VIX, meanwhile shot up 10 percent.
The S&P BSE Sensex tumbled 700 points and hovered around 50,340-mark while the Nifty50 index fell below the 14,900 level. ICICI Bank, IndusInd Bank, and Axis Bank fell 3 percent each and were the top Sensex laggards.
The Nifty sectoral indices were painted red, with the Nifty Bank index, down over 2 percent, bleeding the most.
The damage was relatively contained in the broader markets, where the S&P BSE MidCap and SmallCap indices were trading 0.5 percent and 0.3 percent lower, respectively.
RailTel Corporation of India will list its shares at the bourses today. The issue price has been fixed at Rs 94 per share.