Stock Markets Slip In Early Trade; Sensex Dips 588 Points

Benchmark equity indices Sensex and Nifty fell in early trade on Monday owing to ongoing foreign fund outflow and negative trade in Asia markets.

The 30-share BSE Sensex dipped 588.60, or 081 percent to 72,075.87, while the NSE Nifty dropped 161.85 points, or 0.73 percent to 21,893.35.

Tata Motors, Tata Motors-DVR, Samvardhana Motherson, BPCL, Tata Power, PNB, Adani Power, Coal India, HAL, IRFC, and Vedanta were the top laggards.

Among the gainers were ABB India, Cipla, HDFC Life Insurance, Siemens, Pidilite Industries, Asian Paints, and Marico.

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

On Friday, US markets closed with gains.

Brent crude lost 0.31 percent to USD 82.53 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold securities worth Rs 2,117.5 crore on Friday.

On Friday, the Sensex soared 260.30 points, or 0.35 percent to 72,664.47, while the Nifty moved 97.70 points, or 0.44 percent to 22,055.20.

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