Markets fall in early trade amid weak global trends

Mumbai: Benchmark indices began the trade on a weak note on Thursday extending their previous day decline amid negative trend in global equity markets.The 30-share BSE Sensex fell by 420.95 points to reach at 60,485.14 in early trade. Similarly, the broader NSE Nifty declined by 123.65 points to reach at 17,959.20. Both the benchmark indices, however, later recovered most of their early lost ground. The Sensex quoted 81 points lower at 60,825.09 and the Nifty traded with a decline of 23.40 points to 18,059.45.

The BSE benchmark ended 215.26 points or 0.35 percent lower at 60,906.09 on Wednesday. The Nifty fell 62.55 points or 0.34 percent to settle at 18,082.85.

Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they bought shares worth Rs 1,436.30 crore, as per exchange data.

Positions of various stocks in markets

From the Sensex pack, Tech Mahindra, Wipro, Tata Consultancy Services, Infosys, Nestle and Power Grid were the major laggards.

Titan, Axis Bank, Bharti Airtel, ITC and Maruti were among the winners.

Positions of markets worldwide

Asian markets in Seoul, Shanghai and Hong Kong were trading lower.

Wall Street had ended significantly lower on Wednesday.

"Going by the global cues, domestic equities are likely to see a downward trend in early trade on Thursday, after the US Federal Reserve overnight hiked interest rate on expected lines by 75 basis points but signalled that its tightening campaign is not over yet. However, investors can heave a sigh of relief after the Fed hinted at a slower pace of rate increase going ahead," said Prashanth Tapse, Research Analyst, Senior VP (Research), Mehta Equities Ltd.

International oil benchmark Brent crude was trading 0.36 percent lower at USD 95.81 per barrel.

(With PTI inputs)

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