India Markets open in 1 hr 19 mins

Sensex posts biggest fall this year as ITC slumps

A broker trades on his computer terminal at a stock brokerage firm in Mumbai, India, January 20, 2016. REUTERS/Shailesh Andrade/Files

REUTERS - The BSE Sensex fell 1.1 percent, posting its biggest daily percentage drop this year and retreating from a record high in the previous session, as ITC Ltd (ITC.NS) slumped after the government raised a special duty on cigarettes.

The Sensex fell 1.1 percent to 31,710.99, its biggest daily percentage fall since Dec. 2. Meanwhile, the broader NSE Nifty dropped 0.9 percent to 9,827.15, its biggest fall since May 18.

ITC (ITC.NS) slumped 12.5 percent, its biggest daily percentage fall since March 2, 2015.

(Reporting by Krishna V Kurup in Bengaluru; Editing by Amrutha Gayathri)