Markets continue to fall on weak global trends, soaring crude oil prices
The Hindu
Equity benchmarks fall on weak global cues, rising crude prices; FIIs offload equities worth Rs 1,093.47 cr. Sensex down 320.63 pts; Nifty at 19,518.70. HUL, HCL Tech, ITC, Power Grid, Bajaj Fin, UltraTech Cement major laggards. Nestle, Tata Motors, Kotak Mahindra Bank, IndusInd Bank gainers. US 10-yr yield, West Asia tensions headwinds for equity mkt.
Equity benchmark indices fell in early trade on Friday due to weak trends in global markets and soaring crude oil prices.
Foreign fund outflows also weighed on investor sentiments.
Falling for the third day running, the 30-share BSE Sensex fell 320.63 points to 65,308.61. The Nifty declined 106 points to 19,518.70.
Among the Sensex firms, Hindustan Unilever traded over 1 per cent lower after the company reported a marginal decline in consolidated net profit to ₹2,657 crore for the second quarter ended September 30 amid subdued rural demand and heightened competitive intensity.
HCL Technologies, ITC, Power Grid, Bajaj Finance, UltraTech Cement and Asian Paints were among the other major laggards.
Nestle, Tata Motors, Kotak Mahindra Bank and IndusInd Bank were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the negative territory.