Business

Early Trade Sees Market Drops Due To Profit-Taking And Outflows Of Foreign Funds

Benchmark equity indices fell in early trade on Tuesday, capping a three-day rise, on profit-taking amid weak trends in the US markets and foreign fund outflows.

The 30-share BSE Sensex dropped 222.02 points, reaching 73,792.53. The NSE Nifty slid 47.65 points, reaching 22,414.35.

Later, the benchmark indices experienced turbulent movements and traded with minor gains.

ICICI Bank, Tata Consultancy Services, Wipro, Infosys, Bajaj Finance, and Asian Paints were the Sensex’s top laggards.

Among the gainers were IndusInd Bank, HDFC Bank, Tata Steel, and Titan.

In Asian markets, Seoul fell, while Tokyo, Shanghai, and Hong Kong rose.

Wall Street closed largely down on Monday.

Brent crude gained 0.48 percent to USD 87.84 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 522.30 crore on Monday.

On Monday, the BSE benchmark soared 363.20 points or 0.49 percent to 74,014.55, while the NSE Nifty surged 135.10 points or 0.61 percent to 22,462.

Also read: Japan Experiences Earthquake Of Magnitude 6.1; No Tsunami Warning Issued

Spriha Rai

Recent Posts

TV Somanathan: The Exemplary IAS Officer Who Sets A Benchmark For Simplicity & Dedication

TV Somanathan, India’s 33rd Cabinet Secretary, is known for his simplicity, intellectual prowess, and administrative…

11 mins ago

Supreme Court To Hear Plea Seeking Regulation Of Obscene Content On Social Media And OTT Platforms

The Supreme Court agreed to examine a PIL that calls for immediate and stringent regulation…

12 mins ago

Congress MLA Vijay Wadettiwar Questions Victims’ Narratives; Stirs Fresh Controversy Over Pahalgam Attack

After Siddaramaiah’s anti-war remarks, another Congress leader stirs controversy over terror attack comments.

1 hour ago

J&K Assembly Condemns Pahalgam Attack; Observes Two-Minute Silence

The Jammu & Kashmir Assembly began its special session by observing a two-minute silence for…

2 hours ago

Sensex, Nifty Open Higher On Strong Buying In PSU Banks & Financials

Indian equity indices opened higher on Monday, driven by buying in PSU banking and financial…

3 hours ago

India Bans 16 Pakistani YouTube Channels; Tightens Measures After Pahalgam Attack

India has blocked 16 Pakistan-based YouTube channels for spreading provocative and misleading content against the…

3 hours ago