Markets trade lower in early trade on fresh foreign fund outflows

The 30-share BSE Sensex dropped 264.7 points to 72,497.19, while the Nifty declined 80.2 points to 21,917.50.

Mumbai: Equity benchmark indices extended their previous day’s bearish trend and declined in the early trade on Thursday amid heavy foreign fund outflows and mixed trends from the global markets.

The 30-share BSE Sensex dropped 264.7 points to 72,497.19, while the Nifty declined 80.2 points to 21,917.50.

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From the Sensex pack, Bajaj Finance, Tata Steel, JSW Steel, Tata Consultancy Services, Bajaj Finserv, Tech Mahindra, Titan, and HDFC Bank were the major laggards.

Mahindra & Mahindra, Reliance Industries, Larsen & Toubro and Nestle were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,595.06 crore on Wednesday, according to exchange data.

In Asian markets, Seoul and Shanghai traded in the green while Tokyo and Hong Kong quoted lower.

The US markets ended on a mixed note on Wednesday.

The BSE benchmark index tanked 906.07 points, or 1.23 per cent, to settle at 72,761.89 on Wednesday. The Nifty plummeted 338 points, or 1.51 per cent, to 21,997.70.

Global oil benchmark Brent crude climbed 0.20 per cent to USD 84.20 a barrel.