Early Trading Markets Decline Owing To Unfavorable Global Trends, Persistent Withdrawals Of Foreign Funds

Equity benchmark indices fell in early trading on Wednesday, extending the previous day’s drop, in keeping with the negative global market trends and continued outflows of foreign funds.

The BSE Sensex dropped 533.13 points to 64,978.97. The Nifty slipped 153.35 points to 19,375.40.

Among the Sensex companies, the top laggards were NTPC, Axis Bank, IndusInd Bank, Maruti, UltraTech Cement, ICICI Bank, Tata Steel, and Bajaj Finserv.

Among the winners were Nestle, Hindustan Unilever, HDFC Bank, and Asian Paints.

In Asian markets, Seoul, Tokyo, and Hong Kong were trading lower while Shanghai was trading higher.

On Tuesday, the US markets fell by more than 1 percent.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 2,034.14 crore on Tuesday.

Brent crude lost 0.10 percent to USD 90.83 per barrel.

On Tuesday, the BSE index fell 316.31 points or 0.48 percent to close at 65,512.10. The Nifty dropped 109.55 points or 0.56 percent to 19,528.75.

Also read: Markets Slump As Foreign Investment Outflows Continue Unabated