Indian stock market: Sensex dropped nearly 700 points, or 0.85%, to an intraday low of 80,093.52, while the NSE Nifty 50 slipped 205 points, or 0.82%, to a low of 24,507.20. The Nifty broke its initial support at 24,600 before bouncing back from the next support zone around the 24,500 mark.