Sensex falls over 500 points, Nifty drops below 10,200

The BSE Sensex dropped over 500 points — over 1.5% — in late afternoon trade, with the Nifty dropped below 10,200. 

At the closing bell, the Sensex had fallen 509.54 points to 33,176.00 while the Nifty was trading at 10,195.15. 

The drop was led by a selloff in energy, metal, oil & gas, utilities and FMCG stocks amid subdued Asian trend.

Weakness in Asian markets on continued worries of trade tensions due to fears over US tariffs weighed on market sentiment.

Back home, Telugu Desam Party's (TDP) formal exit from the Narendra Modi government also spooked investors.

(With inputs from PTI)