Markets fall in early trade on weak global equities

The 30-share BSE Sensex declined 211.76 points to 61,768.96 in early trade. The broader NSE Nifty dipped 57.95 points to 18,351.70.

Mumbai: Benchmark indices began the trade on a bearish note on Thursday in line with weak global market trends.

The 30-share BSE Sensex declined 211.76 points to 61,768.96 in early trade. The broader NSE Nifty dipped 57.95 points to 18,351.70.

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From the Sensex pack, Titan, Tech Mahindra, HCL Technologies, Tata Steel, Kotak Mahindra Bank, Mahindra & Mahindra, and Maruti were the major laggards in early trade.

Larsen & Toubro, Axis Bank, ICICI Bank, Power Grid and Hindustan Unilever were among the winners.

Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

Wall Street had ended in the negative territory on Wednesday.

“The market is likely to struggle in early trades Thursday, tracking weakness across the Asian indices after the US gauges faltered in overnight trades,” said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd.

The BSE benchmark ended 107.73 points or 0.17 per cent higher at 61,980.72 — its fresh life-time high — on Wednesday. The Nifty had ended marginally higher by 6.25 points or 0.03 per cent to 18,409.65.

International oil benchmark Brent crude was trading 1 per cent lower at USD 91.90 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs 386.06 crore on Wednesday, as per exchange data.