Mumbai: Equity Benchmark Sensex dropped more than 250 points in early trade on Wednesday, tracking losses on the HDFC twin majoring index, the dependency and infosys industry amid a negative trend in the global market.
The 30-shared BSE index traded 259.75 points or 0.49 percent lower at 52,319.01 in the initial transaction, while the nifty nifty which fell 77.15 points or 0.49 percent to 15,669.30.
Nestle India is a top loser in the sensex package, spilling more than 1 percent, followed by Dr.
Reddy’s, Twins HDFC, Axis Bank, Bank Box, TCS, Infosys Reliance.
On the other hand, Indusind Bank, Bharti Airtel, Tata Steel and Hul are among enhancers.
In the previous session, Sensex ended 273.51 points or 0.52 percent lower at 52,578.76, and Nifty fell 78 points or 0.49 percent to 15,746.45.
Foreign Institutional Investors (FIIS) are clean sellers in the capital market because they lowered shares worth Rs 1,459.08 Crore on Tuesday, according to data exchange.
According to Vijayakumar, Head of Investment Strategy in Geojit Financial Services, there is a light-off sentiment in the equity market globally as reflected in increasing dollars.
“Selling in Chinese technology stocks in the crackdown of Beijing regulation has triggered concerns about whether this sales schedule will spread to other segments.
China is too big now.
This can cause flutter in the global market,” he said.
The significant trend in the market is now a sectoral shift, he noted, added that it had been in all sales boards in pharmaceutical stocks in the previous session.
“The benefits ordered in this segment move to other sectors.
Relative complaints in Frontline Financial show sectoral shifts.” Elsewhere in Asia, the stock exchange in Shanghai, Hong Kong, Seoul and Tokyo traded with losses in mid-session agreements.
Equity on Wall Street also ends with negative records in the overnight session.
Meanwhile, Brent Crude’s international oil benchmark rose 0.54 percent to $ 73.92 per barrel.