Markets Drop In Early Trade Owing To Weak Asian Trends

Equity benchmark indices fell in early trade on Tuesday, reflecting dismal Asian markets and fresh foreign fund outflows.

The 30-share BSE Sensex slid 218.11 points to 73,787.83. The NSE Nifty slipped 97.45 points to 22,404.55.

Nestle India, Bajaj Holdings, TVS Motor Company, ICICI Lombard, Shree Cement Berger Paints, torrent Pharma, and Godrej Consumer were the top laggards.

Among the gainers were Bharat Electronics, IRFC, Vedanta, Coal India, JSW Steel, Hindalco, HAL, and Adani Power.

In Asian markets, Singapore, Hong Kong, Indonesia, Shanghai, Thailand, Malaysia, Tokyo, South Korea, and Taiwan all were trading in negative territory.

US markets closed mostly higher on Monday.

According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 92.95 crore on Saturday.

Brent crude lost 0.56 percent to USD 83.24 per barrel.

On Saturday, the Sensex soared 88.91 points or 0.12 percent to 74,005.94 in a special trading session, while Nifty moved 35.90 points or 0.16 percent to 22,502.

On May 18, the National Stock Exchange (NSE) and BSE held a special trading session in the equity and equity derivative segments to check their preparation for substantial interruptions or failures at the primary site.

Markets were closed on Monday for the fifth phase of the Lok Sabha elections in Mumbai.

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