The BSE Sensex dropped 270 points, or 0.3%, to 84,509 in morning trade on Tuesday, as traders booked profits after gains in the previous session. Consumer goods, financial services, banking, and tech stocks mainly weighed on the broader index. Banking stocks fell 0.4% after surging 3.0% to a record high of 8,053.4 on Monday, following a Reuters report that India plans to allow direct foreign investment of up to 49% in state-run banks. However, an upbeat session on Wall Street overnight limited losses, supported by optimism over a potential U.S.-China trade deal. Steady second-quarter earnings and continued foreign inflows also buoyed sentiment. Traders awaited the Federal Reserve’s monetary policy meeting later this week amid hopes of interest rate cuts after softer-than-expected inflation data. Among the early decliners were ICICI Bank (-1.1%), Bajaj Finserv (-1.0%), Bajaj Finance (-0.7%), Nestl