Markets tumble in early trade on weak trends from global equities

Sensex declines 463.96 points to 76,745.94; Nifty drops 149.6 points to 23,351.50

Mumbai: Benchmark equity indices tumbled in early trade on Monday amid weak trends from global markets and fresh foreign fund outflows.

Profit-taking after a record-breaking rally also put pressure on the benchmark indices.

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The 30-share BSE Sensex declined 463.96 points to 76,745.94. The Nifty dropped 149.6 points to 23,351.50.

Among the 30 Sensex companies, IndusInd Bank, Tata Steel, Adani Ports, State Bank of India, Bajaj Finance and JSW Steel were the biggest laggards. Sun Pharma, ITC, ICICI Bank and Tata Consultancy Services were among the gainers.

In Asian markets, Seoul, Shanghai and Hong Kong were trading lower while Tokyo quoted in the positive territory. US markets ended mostly lower on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,790.19 crore on Friday, according to exchange data. Global oil benchmark Brent crude declined 0.07 per cent to $85.18 a barrel.

Snapping its six-day rally, the BSE benchmark declined 269.03 points or 0.35 per cent to settle at 77,209.90 on Friday. The NSE Nifty slipped 65.90 points or 0.28 per cent to end at 23,501.10.