Mumbai, Jul 27 (IANS): The Indian stock market reversed all its gains made earlier in the day amid a global selloff.

The BSE Sensex fell as much as 419 points to touch an intra-day low of 52,433.18 points.

The decline in the Indian market comes amid a selloff in several major global and Asian indices.

Hong Kong's Hang Seng index slumped over 4 per cent as China tightened norms for tech companies.

Major indices in Europe also are in the red amid rising Covid-19 cases.

In the domestic market, heavy selling was witnessed in healthcare and metal stocks.

Around 2.05 p.m., Sensex was trading at 52,533.60, lower by 318.67 points or 0.60 per cent from its previous close of 52,852.27.

It opened at 52,995.72 and touched an intra-day high of 53,024.70 points.

The Nifty50 on the National Stock Exchange was trading at 15,736.90, lower by 87.55 points or 0.55 per cent from its previous close.

The top gainers so far on the Sensex were Tata Steel, Bajaj Finserv and Nestle India, while the major losers Dr Reddy's Laboratories, Axis Bank and Sun Pharmaceutical Industries.