Sensex, Nifty fall in early trade

Adani Group’s stocks will be in focus after index provider MSCI Inc reduced the weightage of four firms in its index after a review

Benchmark equity indices Sensex and Nifty declined in early trade on February 10, tracking negative cues from Asian and global markets.

The stocks of Adani Group companies will also be in focus as index provider MSCI Inc has reduced the weightage of four firms in its index after a review.

In early deals, the 30-share BSE Sensex dropped 173.69 points or 0.29% to 60,632.53 points, while the broader NSE Nifty fell 54.15 points or 0.30% to 17,839.30 points.

As many as 18 stocks in the Sensex were in the red while other shares, including HDFC and Maruti, were trading with marginal gains.

In the previous session, the BSE index ended 142.43 points or 0.23% higher at 60,806.22, and broader NSE Nifty advanced 21.75 points or 0.12% to finish at 17,893.45.

Most of the Asian markets, including Hong Kong and China, were in negative territory.

Deepak Jasani, Head of Retail Research at HDFC Securities, said stocks in Asia were mostly lower on Friday after U.S. equities fell for a second day, and Treasury yields climbed as investors began to adjust for the prospect of higher interest rates as the Federal Reserve battles inflation.