Markets Slump In Early Trade; Sensex Sinks 363 Points

On Wednesday, benchmark equity indices fell in early trade, reflecting negative trends in the Asian markets and ongoing foreign fund outflows.

The 30-share BSE Sensex plummeted 363.09 points to 73,148.76. The NSE Nifty slid 116.9 points to 22,185.60.

Pidilite Industries, Dr Reddy’s Labs, TVS Motor Company, Asian Paints, SRF, Colgate-Palmolive, Hindustan Unilever, HDFC Bank, ICICI Bank, HCL Technologies, L&T, and Adani Total Gas were the top laggards.

Among the gainers were RECL, Power Finance Corp, Varun Beverages, GAIL (India), Info Edge (India), Avenue Supermarts, BPCL, and Vedanta.

In Asian markets, South Korea, and Taiwan were trading higher, while Gift Nifty, Shanghai, Tokyo, Malaysia, and Hong Kong were trading lower.

On Tuesday, US markets ended on a mixed note.

Brent crude lost 0.30 percent to USD 82.91 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 3,668.84 crore on Tuesday.

On Tuesday, the Sensex dipped 383.69 points or 0.52 percent to 73,511.85, while the Nifty sank 140.20 points or 0.62 percent to 22,302.50.

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