Mumbai: Market benchmarks declined in early trade on Thursday amid a largely weak trend in global equities and continuous foreign fund outflows.
The BSE Sensex declined by 145.4 points to end at 59,265.68. The NSE Nifty dipped by 47.95 points to reach 17,402.95.
The BSE benchmark had advanced by 448.96 points or 0.76 percent to settle at 59,411.08 on Wednesday. The Nifty climbed by 146.95 points or 0.85 percent to end at 17,450.90. Foreign Portfolio Investors (FPIs) offloaded shares worth Rs 424.88 crore on Wednesday, according to exchange data.
From the Sensex pack, Tata Consultancy Services, Infosys, Maruti, Axis Bank, Mahindra & Mahindra, Tech Mahindra, Tata Motors, Nestle, Asian Paints and Bajaj Finance were the major laggards.
Bajaj Finserv, Larsen & Toubro, Tata Steel and UltraTech Cement were the gainers.
In Asian markets, Japan and Hong Kong were trading lower, while China and Seoul were quoting in the green.
The US markets had ended mostly lower on Wednesday.
"The major concern for global equity markets continues to be the rising bond yields in the US, which will act as a drag for FII inflows into emerging markets like India. Yesterday, the US 10-year bond yield touched four percent. FIIs cannot be expected to turn buyers in this scenario," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
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