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Markets drop in early trade after sharp rally in previous session

Equity benchmark indices Sensex and Nifty dropped in early trade on Tuesday, a day after recording a sharp rally, amid the emergence of profit-taking. The 30-share BSE benchmark gauge Sensex, declined by 497.5 points to 81,932.40 in early trade. The NSE Nifty dropped 117.2 points to 24,807.50. Later, the BSE benchmark index quoted 788.62 points down at 81,641.28, and the Nifty traded with a cut of 209.90 points at 24,714.80.