Benchmark equity indices Sensex and Nifty fell in early trade on Wednesday, owing to unfavorable global trends, increased crude oil prices, and outflow of foreign funds.
The 30-share BSE Sensex sank 281.18 points or 0.38 percent to 73,622.73. The NSE Nifty slid 93.15 points or 0.41 percent to 22,360.15.
22 Sensex participants were trading in red with Bharti Airtel, Nestle India, Sun Pharma, and IndusInd Bank among the top laggards.
Ultratech Cement, Tech Mahindra, Axis Bank, and Tata Steel, on the other hand, defied the trend and were all trading higher.
On the 50-share NSE Nifty, as many as 38 shares were in the negative zone.
Asian markets were trading in negative, with South Korea’s Kospi, Hong Kong’s Hang Seng, and Japan’s Nikkei 225 falling by 1.1 percent, 0.78 percent, and 0.68 percent, respectively. China’s Shanghai Composite was down 0.24 percent.
On Tuesday, the US and European markets closed mostly lower.
Brent crude gained 0.08 percent to USD 88.99 a barrel.
According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 1,622.69 crore on Tuesday.
On Tuesday, the BSE benchmark Sensex dipped110.64 points or 0.15 percent to 73,903.91, while the NSE Nifty lost 8.70 points or 0.04 percent to 22,453.30.
Also read: Markets End 3-Day Winning Streak; Sensex Falls 110 Points
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