Sensex, Nifty tank in early trade on foreign fund outflows

New Delhi: Benchmark equity indices Sensex and Nifty declined in early trade on Monday amid continuous foreign fund outflows, weak trends from Asian markets and heavy selling in Tata Motors.

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The 30-share BSE Sensex tanked 462.33 points to 72,202.14. The NSE Nifty declined 125.8 points to 21,929.40.

From the Sensex basket, Tata Motors dropped over 7 percent despite reporting over three-fold jump in consolidated net profit at Rs 17,528.59 crore for the fourth quarter ended March 31, 2024.

JSW Steel, Tata Steel, NTPC, State Bank of India, Power Grid and Mahindra & Mahindra were the other major laggards.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,117.50 crore on Friday, according to exchange data.

The BSE benchmark climbed 260.30 points or 0.36 percent to settle at 72,664.47 on Friday. The NSE Nifty climbed 97.70 points or 0.44 percent to 22,055.20.

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