Mumbai: Benchmark equity indices fell in early trade on Thursday amid heavy foreign fund outflows and selling in Reliance Industries and Tata Consultancy Services.
Falling for the third consecutive day, the 30-share BSE Sensex fell 209 points to 73,256.79. NSE Nifty fell 77.7 points to 22,224.80.
Larsen & Toubro fell over 3 per cent on Sensex after March quarter earnings.
Tata Consultancy Services, Tech Mahindra, ITC, Bajaj Finserv, Bharti Airtel and Reliance Industries were the other laggards.
Mahindra & Mahindra, Titan, Maruti and Tata Motors were among the gainers.
“A major trend in the market now is aggressive selling by FIIs, which has reached Rs 15,863 crore so far this month. It is important to understand that apart from higher US bond yields, there is a new factor triggering FII selling. This “Chinese and Hong Kong markets are outperforming,” said K Vijayakumar, chief investment strategist at Geojit Financial Services.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 6,669.1 crore on Wednesday.
In Asian markets, Tokyo, Shanghai and Hong Kong were trading with gains while Seoul was trading with losses.
Wall Street ended Wednesday with a mixed trend.
Global oil benchmark Brent crude rose 0.43 percent to US$83.94 per barrel.
The 30-share BSE Sensex on Wednesday closed at 73,466.39, down 45.46 points or 0.06 per cent. NSE Nifty remained unchanged at 22,302.50.
Falling for the third consecutive day, the 30-share BSE Sensex fell 209 points to 73,256.79. NSE Nifty fell 77.7 points to 22,224.80.
Larsen & Toubro fell over 3 per cent on Sensex after March quarter earnings.
Tata Consultancy Services, Tech Mahindra, ITC, Bajaj Finserv, Bharti Airtel and Reliance Industries were the other laggards.
Mahindra & Mahindra, Titan, Maruti and Tata Motors were among the gainers.
“A major trend in the market now is aggressive selling by FIIs, which has reached Rs 15,863 crore so far this month. It is important to understand that apart from higher US bond yields, there is a new factor triggering FII selling. This “Chinese and Hong Kong markets are outperforming,” said K Vijayakumar, chief investment strategist at Geojit Financial Services.
According to exchange data, foreign institutional investors (FIIs) sold equities worth Rs 6,669.1 crore on Wednesday.
In Asian markets, Tokyo, Shanghai and Hong Kong were trading with gains while Seoul was trading with losses.
Wall Street ended Wednesday with a mixed trend.
Global oil benchmark Brent crude rose 0.43 percent to US$83.94 per barrel.
The 30-share BSE Sensex on Wednesday closed at 73,466.39, down 45.46 points or 0.06 per cent. NSE Nifty remained unchanged at 22,302.50.
