Markets fall in early trade after four days of rally
The Hindu
Stock market declines due to global trends, foreign fund outflows; Sensex falls 297.97 points, Nifty dips 86.05 points.
Equity benchmark indices declined in early trade on Tuesday after rallying in the past four days amid weak trends from global markets and foreign fund outflows.
After a record-breaking rally, the 30-share BSE Sensex declined 297.97 points to 73,574.32 due to profit-taking. The Nifty dipped 86.05 points to 22,319.55.
Among the Sensex firms, HCL Technologies, Tata Consultancy Services, ICICI Bank, Infosys, Axis Bank and Reliance Industries were the major laggards.
Tata Motors, Mahindra & Mahindra, State Bank of India and NTPC were among the gainers.
In Asian markets, Seoul, Tokyo and Hong Kong were trading lower while Shanghai quoted in the green.
The US markets ended in the negative territory on Monday.
Global oil benchmark Brent crude dipped 0.18% to $82.64 a barrel.
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