Sensex drops 1.1% in biggest fall of 2017

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 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 slumped 12.5 percent, its biggest daily percentage fall since March 2, 2015.