Starting with the stock market crash, the Sensex slipped more than 150 points
New Delhi| A period of selling was seen in the stock market in early trade on Wednesday. BSE Sensex fell 240.75 points to 81,579.37 in early trade. Whereas NSE Nifty fell by 62.7 points to 24,994.65 points. Among the 30 Sensex companies, Mahindra & Mahindra, Nestle, UltraTech Cement, Tata Consultancy Services, Kotak Mahindra Bank and IndusInd Bank were the most backward.
Domestic stock market benchmark indices Sensex and Nifty declined in early trade on Wednesday amid continuous withdrawal of foreign funds and weak trend in global markets.
HDFC Bank, Bajaj Finserv, Asian Paints and Sun Pharma were among the gainers. “There was an atmosphere of caution in the market and foreign investors sold Rs 63,900 crore in October”, said Prashant Taapsee, senior vice president (research), Mehta Equities Ltd
Foreign institutional investors (FIIs) sold equities worth Rs 1,748.71 crore on Tuesday, according to exchange data. In Asian markets, Seoul and Tokyo declined, while Shanghai and Hong Kong remained positive. American markets closed with a decline on Tuesday.
Brent crude, the global oil standard, rose 0.23 percent to $74.42 a barrel. On Tuesday, BSE’s benchmark index had closed at 81,820.12, down 152.93 points, or 0.19 per cent. Nifty had closed at 25,057.35, down 70.60 points or 0.28 per cent.
