Sensex, Nifty decline in initial trade dragged by foreign fund outflows
The Hindu
Follow us for the stock market updates: Sensex and Nifty decline due to foreign fund outflows and weak global markets, impacting IT stocks and major laggards.
Benchmark indices Sensex and Nifty declined in early trade on Tuesday (December 31, 2024) amid persistent foreign fund outflows, and weak trends in the global markets.
Selling in IT stocks also dampened investor sentiments.
The 30-share BSE benchmark Sensex tanked 468.14 points to 77,779.99 in initial trade. The NSE Nifty dropped 117.05 points to 23,527.85.
From the 30 blue-chip pack, Tech Mahindra, Tata Consultancy Services, Infosys, HCL Technologies, Zomato, IndusInd Bank, Bajaj Finance and ICICI Bank were the major laggards.
Kotak Mahindra Bank, State Bank of India, Tata Motors and Tata Steel were among the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,893.16 crore on Monday, according to exchange data.
In Asian markets, Seoul and Shanghai were trading lower while Hong Kong quoted in the positive territory.
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