Equities Markets Slump In Early Trade

Equity benchmark indices fell in early trade on Tuesday, owing to weak trends from Asian markets trends and new foreign fund outflows.

Following the recent dramatic market surge, investors also chose to book profits.

The 30-share BSE Sensex dropped 202.76 points to 72,069.18. The Nifty lost 42.9 points to 21,699.

UltraTech Cement, Mahindra & Mahindra, Infosys, Asian Paints, HCL Technologies, and Larsen & Toubro were the top laggards on the Sensex.

Among the winners were Sun Pharma, Bharti Airtel, Reliance Industries, Bajaj Finserv, and Power Grid.

In Asian markets, Seoul, Shanghai, and Hong Kong all are trading lower.

Monday was a holiday for Asian, European, and American markets.

Brent crude rose 1.65 percent to USD 78.31 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 855.80 crore on Monday.

After a slow start on Monday, the BSE gained 31.68 points or 0.04 percent to 72,271.94. The Nifty advanced 10.50 points or 0.05 percent to 21,741.90.

In 2023, the BSE soared 11,399.52 points or 18.73 percent, while the Nifty surged 3,626.1 points or 20 percent.

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