Markets fall in early trade on weak trend in U.S. equities, foreign fund outflows

Equity benchmark indices declined in early trade on April 26 tracking weak trends in the U.S. market and foreign fund outflows.

Equity benchmark indices declined in early trade on April 26 tracking weak trends in the U.S. market and foreign fund outflows.

Also, a weak trend in index major Reliance Industries and ICICI Bank dragged down the benchmark indices lower in initial trade.

The 30-share BSE Sensex declined 54.08 points to 60,076.63 points while the broader NSE Nifty fell 24 points to 17,745.25 points.

Among the Sensex firms, Tata Steel, State Bank of India, Reliance Industries, Bajaj Finserv, NTPC, Kotak Mahindra Bank, ITC, ICICI Bank, HDFC Bank and HDFC were the biggest laggards.

Power Grid, IndusInd Bank, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Nestle were among the gainers.

In Asian markets, Seoul and Hong Kong were quoting in the green while Japan and Shanghai were trading lower. The U.S. markets had ended sharply lower on Tuesday.

"Markets could decline sharply in early Wednesday trade after the key U.S. gauges faltered overnight as renewed banking woes came to the fore amid a 41% plunge in the shares of First Republic.