Equity markets fall in early trade amid weak global trends, foreign fund outflows
The Hindu
Mkt indices fall in early trade; Tata Steel, L&T, JSW Steel major laggards. Asian mkts lower; US mkts end mostly in red. FIIs offloaded equities worth ₹92.85 cr. Global oil benchmark Brent crude up 0.85%. Volatility due to US Fed rate hike & tepid earning reports. In Tues trade, Sensex down 68.36 pts & Nifty 20.25 pts.
Equity benchmark indices went lower in early trade on August 2 amid weak global market trends and continuous foreign fund outflows.
The 30-share BSE Sensex fell 396.51 points to 66,062.80. The NSE Nifty declined 95.25 points to 19,638.30.
From the Sensex pack, Tata Steel, Larsen & Toubro, JSW Steel, NTPC, Bajaj Finserv, HDFC Bank, HCL Technologies, Wipro, ITC and Tata Motors were among the major laggards.
Maruti, Reliance Industries, Power Grid and Tech Mahindra were the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were quoting lower.
The U.S. markets ended mostly in the negative territory on Tuesday.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹92.85 crore on Tuesday, according to exchange data.