Mumbai: The benchmark of the sensex equity fell more than 300 points in the initial trade on Thursday loss tracking in the HDFC twin index, ICICI Bank and Infosys amid a majority of negative trends in the global market and the outflow of sustainable foreign funds.
The 30-stock index traded 303.07 points or 0.50 percent lower at 60,049.75 in the initial transaction.
Similarly, Nifty fell 102.60 points or 0.57 percent to 17,914.60.
Tech Mahindra is a top loser in the Sensex package, spilling around 2 percent, followed by HDFC, SBI, Nestle India, Axis Bank, HCC Tech and ICICI Bank.
On the other hand, Titan, Tata Steel, L & T, Bharti Airtel and Maruti are among control.
In the previous session, Sensex ended 80.63 points or 0.13 percent lower at 60,352.82, and Nifty fell 27.05 points or 0.15 percent to 18,017.20.
Foreign institutional investors (FIIS) are clean sellers in the capital market, because they lowered shares worth 469.50 crore on Wednesday, according to data exchange.
“Increased inflation emerged as a threat to global equity rally, at least in the short term,” said V K Vijayakumar, head of investment strategist at Geojit Financial Services.
Consumer price inflation in the US has increased to 30 years high of 6.2 percent, year-on-year, in October.
In China too, producer price inflation has increased to 13.5 percent.
It has the potential to shed on global commodity inflation, he warns.
Feeling the danger in front, the 10-year results rose to 1.57 percent.
“The Fed still believes that the surge in inflation is caused by a supply side problem and, therefore, temporarily And Tokyo is positive.
The main index on Wall Street ended with a negative record in the overnight session.
Meanwhile, Brent Crude’s international oil benchmark rose 0.23 percent to $ 82.83 per barrel.