Markets decline in early trade on weak global peers, foreign fund outflows
The Hindu
Stock market indices fall as global markets weaken, with key firms like SBI and UltraTech Cement lagging.
Benchmark equity indices declined in early trade on Friday (September 6, 2024) tracking a weak trend in global markets and fresh foreign fund outflows.
Falling for the third day running, the 30-share BSE Sensex declined 233.98 points to 81,967.18 in early trade. The NSE Nifty dropped 60 points to 25,085.10.
Among the 30 Sensex firms, State Bank of India, UltraTech Cement, Reliance Industries, NTPC, ICICI Bank and Titan were the biggest laggards.
Bajaj Finance, Bajaj Finserv, Hindustan Unilever, Asian Paints and IndusInd Bank were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.
The U.S. markets ended mostly in the negative territory on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹688.69 crore on Thursday after days of remaining buyers, according to exchange data.
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Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
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