NSE & BSE fall in early trade

The 30-share BSE index was trading 203.71 points at 60,638.17 points in initial deals & the broader NSE Nifty slipped by 64.05 points to reach 17,790 points
NSE & BSE fall in early trade
NSE & BSE fall in early trade

Mumbai: Equity benchmark Sensex declined more than 200 points in early trade on Monday, tracking losses in index-heavyweights Infosys, TCS and HUL amid a broadly negative trend in global markets. Besides, a weak rupee against major rivals dented the domestic equity market sentiments, traders said. The 30-share BSE index was trading 203.71 points or 0.33 percent lower at 60,638.17 points in initial deals. Similarly, the broader NSE Nifty slipped by 64.05 points or 0.36 percent to reach 17,790 points.

On February 3, the Sensex surged by 909.64 points or 1.52 percent to settle at 60,841.88 points while the Nifty advanced by 243.65 points or 1.38 percent to end at 17,854.05 points. Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 932.44 crore on February 3, according to exchange data.

Position of stocks in BSE

Infosys was the top loser in the Sensex pack, shedding 1.31 percent, followed by HUL, Sun Pharma, Nestle India, HCL Tech, Kotak Bank and TCS.

On the other hand, Axis Bank, SBI, ITC, L&T, IndusInd Bank, Tata Motors, Bajaj Finserv and HDFC Bank were among the gainers.

Performance of markets worldwide

In Asia, bourses in Hong Kong, Shanghai and Seoul were trading with losses in mid-session deals while Tokyo market was in the positive territory on Monday.

The Wall Street ended lower on February 3.

Meanwhile, international oil benchmark Brent crude rose 0.25 percent to USD 80.14 per barrel.

Investors will also be watching the Reserve Bank of India's monetary policy decision later this week.

With retail inflation showing signs of softening and the US Fed moderating the pace of increase in its benchmark interest rate, the RBI is likely to settle for a smaller 25 basis points repo rate hike.

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