Markets fall in early trade on weak global trends, foreign fund outflows

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the negative territory.

August 03, 2023 10:13 am | Updated 10:13 am IST - Mumbai

Equity benchmark indices began the trade on a weak note on Thursday

Equity benchmark indices began the trade on a weak note on Thursday | Photo Credit: Reuters

Equity benchmark indices began the trade on a weak note on Thursday, continuing to fall for the third day running, in tandem with a bearish trend in global markets and continuous foreign fund outflows.

The 30-share BSE Sensex fell 299.99 points to 65,482.79. The NSE Nifty declined 87.5 points to 19,439.05.

From the Sensex pack, Titan, Bajaj Finserv, UltraTech Cement, Hindustan Unilever, Tata Steel and JSW Steel were the major laggards.

Leading jewellery and watchmaker Titan on Wednesday reported a 4.3 per cent drop in consolidated net profit at ₹756 crore for the June quarter.

Sun Pharma, NTPC, HDFC Bank and Larsen & Toubro were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the negative territory.

The U.S. markets ended lower on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,877.84 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.11 per cent to $83.29 a barrel.

The Sensex tumbled 676.53 points or 1.02 per cent to settle at 65,782.78 on Wednesday. The Nifty fell by 207 points or 1.05 per cent to end at 19,526.55.

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