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Sensex, Nifty End Down About 1%

Indian shares fell sharply on Tuesday as COVID worries persisted and investors awaited Q4 earnings results from more companies for directional cues.

Amid calls for a nationwide lockdown, the Indian Premier League 2021 season has been called off for now with immediate effect.

The benchmark 30-share BSE Sensex swung in a range of more than 800 points before finally settling at 48,253.51, down 465.01 points, or 0.95 percent, from its previous close.

The broader NSE Nifty index ended down 137.65 points, or 0.94 percent, at 14,496.50 with selling accelerating in the late-afternoon session.

Tata Consumer Products lost 4.3 percent ahead of its earnings results due on May 6.

Tata Chemicals plummeted 9.4 percent as it reported a 58 percent year-on-year decline in its FY21 consolidated net profit.

Drug makers Divis Laboratories, Dr Reddy's Laboratories and Cipla fell 2-3 percent while heavyweight Reliance Industries gave up 2.1 percent.

SBI Life Insurance rallied 2.7 percent and Home First Finance surged 4.5 percent on positive Q4 earnings.

HPCL jumped 2.6 percent, BPCL gained 1.6 percent and ONGC added 1.4 percent as oil marketing companies raised the prices of petrol and diesel after a pause of 18 days.

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