Business

Equities Slump In Early Trade Amid Unfavourable Global Trends

Equity benchmark indices Sensex and Nifty fell in early trade on Friday owing to unfavourable global trends and continued foreign fund outflows.

The 30-share BSE Sensex sank 185.42 points to 73,478.30. The NSE Nifty dropped 50.35 points to 22,353.50.

HAL, Marico, Eicher Motors, L&T, Nestle India, Cipla, Britannia, SBI Life Insurance, Tata Consumer, Cholamandalam Invest, and Godraj Consumer were the top laggards.

Among the gainers were Mahindra & Mahindra, Info Edge(India), Zydus, Siemens, Power Finance Corp, IRFC, Interglobe Aviation, Bharat Electronics, and Adani Enterprises.

In Asian markets, Singapore, Hong Kong, Indonesia, Thailand, and Malaysia were trading higher while, Tokyo, South Korea, Shanghai, and Taiwan were trading lower.

US markets closed lower on Thursday.

Brent crude gained 0.25 percent to USD 83.48 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 776.49 crore on Thursday.

On Thursday, the BSE benchmark jumped 676.69 points or 0.93 percent to 73,663.72, while the Nifty soared 203.30 points or 0.92 percent to 22,403.85.

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Spriha Rai

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