Business

Markets Decline In Early Trade; Sensex Drops 416 Points

Benchmark equity indices fell in early trade on Wednesday, falling for the fourth day in a row, amid profit-taking by investors and negative Asian markets trend.

The 30-share BSE Sensex dipped 416.1 points to 74,754.35. The NSE Nifty sank 125.9 points to 22,762.25.

IRCTC, ICICI Prudential, Interglobe Aviation, HDFC Life Insurance, SBI Life Insurance, Info Edge (India), Ultra Tech Cement, Zydus, and Axis Bank were the top laggards.

Among the gainers were HAL, Zomato, Power Grid Corp, PNB, Hindalco, Havells India, Marico, Trent, and Bharat Electronics.

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

On Tuesday, US markets closed on a mixed note.

Brent crude gained 0.21 percent to USD 84.40 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 65.57 crore on Tuesday.

On Tuesday, the Sensex dropped 220.05 points or 0.29 percent to 75,170.45, while the Nifty lost 44.30 points or 0.19 percent to 22,888.15.

Also read: Bridge Collapses On Landslide Aid Route In Papua New Guinea, Cutting Off Main Highway

Spriha Rai

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