Share Market Opening Bell: Stock market selling continues; Sensex falls 400 points, Nifty below 24250

New Delhi| The decline in the domestic stock market continued on Wednesday also. Sensex Slipped to 400 points in early trade, while Nifty fell below the level of 24, 250. The rupee also fell by one penny in early trade to 84.92 against the US dollar. At 11:25 am, the Sensex fell 428.09 (0.53%) points to 80,268.36. On the other hand, Nifty was seen trading at the level of 24,231.65, down by 104.35 (0.43%) points.

Sensex and Nifty fell in early trade amid withdrawal of foreign capital after the market opened in the morning. BSE Sensex fell by 149.31 points in early trade to 80,535.14 points. NSE Nifty slipped 62.9 points to 24,273.10 points. Foreign institutional investors (FIIs) were selling on Tuesday and sold shares worth a net Rs 6,409.86 crore, according to stock market data. Shares of Tata Motors, Power Grid, Larsen & Toubro, Adani Ports, Maruti and NTPC were among the losers among the 30 Sensex-listed companies. Shares of Reliance Industries, HCL Technologies, Tech Mahindra, Hindustan Unilever, Asian Paints and ITC rose.

In Asian markets, South Korea’s Kospi, Hong Kong’s Hang Seng and China’s Shanghai Composite were in profit while Japan’s Nikkei was in loss. American markets closed with a negative trend on Tuesday. International standard Brent crude was up 0.04 percent at $73.22 a barrel.