Markets decline in early trade amid unabated foreign fund outflows
The Hindu
Equity indices Sensex and Nifty drop amid foreign fund outflows and Fed rate cut concerns, impacting market trends.
Equity benchmark indices Sensex and Nifty declined in early trade on Friday (December 20, 2024) amid unabated foreign fund outflows and concerns over the US Federal Reserve signalling fewer rate cuts next year.
The 30-share BSE benchmark Sensex declined 214.08 points to 79,003.97 in early trade. The NSE Nifty also dipped 63.8 points to 23,887.90.
From the 30 blue-chip stocks, Axis Bank, Tech Mahindra, IndusInd Bank, JSW Steel, ITC, Larsen & Toubro, UltraTech Cement and HDFC Bank were the biggest laggards.
Titan, NTPC, Bajaj Finance, Bharti Airtel, Tata Consultancy Services and Maruti were among the gainers.
In Asian markets, Seoul quoted lower while Tokyo, Shanghai and Hong Kong were trading in the positive territory.
Wall Street ended on a mixed note on Thursday (December 19, 2024).
Foreign Institutional Investors (FIIs) offloaded equities worth ₹4,224.92 crore on Thursday (December 19, 2024), according to exchange data.
Starting February 1, new excise duties and a health cess on tobacco and pan masala will be implemented, replacing existing levies.