Advertisement
Saturday, Dec 04, 2021
Outlook.com
Outlook.com

Sensex Falls 100 Points In Early Trade; Nifty Slips Below 15,800

The 30-share BSE index fell 141.67 points, or 0.27 percent, to 52,695.54 in early transactions, after starting almost 150 points higher, while the broader NSE Nifty fell 42.05 points, or 0.27 percent, to 15,782.

Sensex Falls 100 Points In Early Trade; Nifty Slips Below 15,800
BSE Sensex | Representational Image
Sensex Falls 100 Points In Early Trade; Nifty Slips Below 15,800
outlookindia.com
2021-07-23T10:59:32+05:30

Equity benchmark Sensex tumbled over 100 points in early trade on Friday, tracking losses in index majors HDFC Bank, ICICI Bank, and L&T amid sustained foreign fund outflow.

After opening over 150 points higher, the 30-share BSE index pared all gains to trade 141.67 points or 0.27 percent lower at 52,695.54 in initial deals, while the broader NSE Nifty declined 42.05 points or 0.27 percent to 15,782.

L&T was the top loser in the Sensex pack, shedding around 1 percent, followed by Sun Pharma, Bajaj Finance, HDFC Bank, and Kotak Bank.

On the other hand, HCL Tech, UltraTech Cement, Tata Steel, Titan, and Maruti were among the gainers.

In the previous session, Sensex ended 638.70 points or 1.22 percent higher at 52,837.21, while Nifty surged 191.95 points or 1.23 percent to 15,824.05.

Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 247.59 crore on Thursday, as per provisional exchange data.

According to Binod Modi Head-Strategy at Reliance Securities, a sharp recovery in global markets propelled domestic equities to see a sharp rebound on Thursday, while concerns over global growth due to the recent rise in delta variants of coronavirus cases in different parts of the world continues to persist.

"However, we continue to believe that the underlying strength of the domestic market remains intact," he said.

On the global front, US equities extended gains for the third consecutive day despite weak employment data as investors focused on strong report cards of corporate earnings, he added.

Elsewhere in Asia, bourses in Shanghai and Hong Kong were in the red, Seoul and Tokyo were trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude declined 0.33 percent to USD 73.55 per barrel.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Five Points On How Taliban Wants To Define Marriage For Women

Five Points On How Taliban Wants To Define Marriage For Women

Taliban government's revised version of women’s rights decree largely emphasizes on marriage and re-marriage which predictably is in accordance with the Sharia law.

Hyderpora Encounter: Arrest Of Khurram Parvez Brings Focus Back On Human Rights In Kashmir

Hyderpora Encounter: Arrest Of Khurram Parvez Brings Focus Back On Human Rights In Kashmir

Alleging abuse of anti-terror laws, the United Nations and international human rights bodies seek release of rights activist Khurram Parvez and inquiry into the Hyderpora encounter.

2nd Test, Day 2: IND Take 332-Run Lead After Dismissing NZ For 62

2nd Test, Day 2: IND Take 332-Run Lead After Dismissing NZ For 62

On Ajaz Patel's record-breaking day, India dismissed New Zealand for 62 runs, then took a 332-run lead. Catch Day 2 highlights.

Omicron Severity Is Anticipated To Be Low: Health Ministry

Omicron Severity Is Anticipated To Be Low: Health Ministry

Will the Omicron variant drive the Covid-19 third wave in India? The Union Health Ministry says the chances are very low.

Advertisement