Mumbai: Equity Benchmark Sensex fell more than 100 points in early trade on Thursday, tracking losses in infosys index majors, the dependency industry and TCS amid a negative trend in the global market and the flow of sustainable foreign funds.
Despite opening on positive records, the 30-stock index turned red to trade 112.13 points or 0.19 percent lower at 59,896.20.
Similarly, Nifty fell 35.95 points or 0.20 percent to 17,862.70.
M & M is a top loser in the sensex package, spilling more than 1 percent, followed by HCL Tech, Tech Mahindra, Dr.
Reddy’s, Maruti, Bajaj Auto and TC.
On the other hand, SBI, HDFC Bank, ITC, Bajaj Finserv and Bajaj Finance are among the enhancers.
In the previous session, Sensex ended 314.04 points or 0.52 percent lower at 60.008.33, expanding losses, and Nifty fell 100.55 points or 0.56 percent to 17,898.65.
Foreign institutional investors (FIIS) are clean sellers in the capital market, because they lowered shares worth RS 344.35 Crore on Wednesday, according to data exchange.
“The market momentum has weakened recently, and the market seems to be towards risk-off mode.
High assessment, a decrease in Indian rankings by many foreign brokers, commemoration observations from RBI and sustainable sales by FIIS have contributed to this weakness on the market,” said VIJYAKUMAR VK, Head of Investment Strategy in Geojit Financial Services.
Globally, the case of fresh covid in some parts of Europe is worries.
There is a fear that fresh-padded disorders can further aggravate the supply side problems that add fuel to inflation fire, he said.
Elsewhere in Asia, Burun in Shanghai, Hong Kong, Tokyo and Seoul traded with losses in a mid-session agreement.
The stock market in the US also ended in red in an overnight session.
Meanwhile, Benchmark International Oil Brent crude oil fell 0.54 percent to $ 79.84 per barrel.