Markets decline in early trade on unabated foreign fund outflows
The Hindu
Sensex and Nifty drop due to foreign fund outflows, TCS starts earnings season, major laggards include Tata Motors and Zomato.
Benchmark indices Sensex and Nifty dropped in initial trade on Thursday (January 9, 2025) dragged by persistent foreign fund outflows, with investors staying on the sidelines ahead of the earnings season.
TCS is kick-starting the December quarter results calendar on Thursday.
The 30-share BSE benchmark Sensex dropped 284.12 points to 77,864.37 in early trade. The NSE Nifty dipped 86.8 points to 23,602.15.
From the 30-share blue-chip pack, Tata Motors, Larsen & Toubro, Zomato, State Bank of India, Sun Pharma, Power Grid, Bajaj Finance and NTPC were the major laggards.
Kotak Mahindra Bank, Infosys, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints were the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,362.18 crore on Wednesday, according to exchange data.
In Asian markets, Seoul and Hong Kong traded in the positive territory while Tokyo and Shanghai quoted lower.
Congress calls for radical action in upcoming Union budget to address GDP growth slowdown and investment chill in India.
Union Budget must revive India's slowing consumption impulses through multiple measures, including tax cuts and reforms roadmap.
Principal Secretary to the Prime Minister emphasizes importance of hybrid seeds for increased crop productivity and food security.
Equity indices end lower amid volatile session, subdued sentiment due to lower economic growth projections and global cues.
In the domestic equity market, the 30-share BSE Sensex skid 50.62 points, or 0.06%, to settle at 78,148.49 points, while the Nifty fell 18.95 points, or 0.08%, to 23,688.95 points.
ONGC selects BP as Technical Service Provider for Mumbai High field, aiming to enhance production and recovery.
Equity indices Sensex and Nifty drop amid foreign fund outflows, cautious investors, and weak global markets on January 8.
Republican lawmaker criticizes Biden administration for investigating billionaire Adani, warns of damaging alliances, questions selective prosecution, and potential Soros connection.
China's lithium reserves surge, becoming world's second-largest holder, with new mines and salt lakes discovered.
Rupee hits record low against dollar due to strengthening American currency, higher crude oil prices, and subdued domestic markets.
GTRI warns against reducing smartphone parts tariffs in India, citing harm to local ecosystem, investment, and job losses.