Markets fall in initial trade on weak global trends
The Hindu
The BSE Sensex declined 354.81 points to 59,109.12
Benchmark indices began the trade on a weak note on February 27 in tandem with bearish trend in global markets amid concerns over more rate hikes by developed economies.
Fresh foreign fund outflows and weak trend in IT counters also dented investor sentiments.
The BSE Sensex declined 354.81 points to 59,109.12. The NSE Nifty slipped 107.4 points to 17,358.40.
From the Sensex pack, Infosys, Tata Motors, Tech Mahindra, HCL Technologies, Wipro, Tata Consultancy Services, Tata Steel and Maruti were the biggest laggards.
NTPC, Nestle, ICICI Bank and State Bank of India were among the gainers.
In Asian markets, South Korea, Japan, China and Hong Kong were trading lower.
The US markets had ended sharply down on Friday.
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