Equity benchmark indices fell in early trade on Friday, following a record-breaking rally the day before, as investors took profits amid weak Asian markets trend.
The hotter-than-expected US inflation data also weighed on investors’ sentiment, as it lowered expectations for the Federal Reserve rate reduction.
The 30-share BSE Sensex dipped 324.12 points to 74,714.03. The NSE Nifty dropped 96.6 points to 22,657.20.
Sun Pharmaceutical, Godrej Consumer, Titan, Varun Beverages, Shriram Finance, JSW Steel, Maruti Suzuki, HDFC Bank, Asian Paints, and ITC were the top laggards.
Among the gainers were IRCTC, Tata Power, Samvardhana Motherson, ICICI Prudential, and Trent.
In Asian markets, Tokyo, and Shanghai were trading higher, while South Korea and Hong Kong were trading lower.
Wall Street finished mainly up on Thursday.
Brent crude gained 0.58 percent to USD 90.26 a barrel.
According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 2,778.17 crore on Wednesday.
On Wednesday, equity benchmark indices had a record-breaking rally, the Sensex soared 354.45 points or 0.47 percent to 75,038.15, while the Nifty moved 111.05 points or 0.49 percent to 22,753.80.
Stock markets were closed on Thursday in observance of Eid-Ul-Fitr.
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