Continuing losses from the previous day, the 30-share BSE Sensex fell 309.7 points to 59,805.78 in initial trade. The broader NSE Nifty fell 89.8 points to 17,824.35.
Post Date – 12:00 PM, Wednesday – 1/11/23
Mumbai: The stock market benchmark fell in opening trade on Wednesday as foreign capital outflows continued unabated and index heavyweight Reliance Industries was weak.
Continuing losses from the previous day, the 30-share BSE Sensex fell 309.7 points to 59,805.78 in initial trade. The broader NSE Nifty fell 89.8 points to 17,824.35.
In the Sensex pack, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Axis Bank, Bajaj Finserv, Reliance Industries, HDFC and IndusInd Bank were the major laggards.
Tata Motors, HCL Technologies, Tata Consultancy Services, Infosys, UltraTech Cement and ICICI Bank were among the winners.
“The biggest recent drag on the market was the 13th consecutive session of selling by FIIs, which brought the cumulative sell-off in the spot market to Rs 16,587 crore,” said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
Foreign institutional investors (FIIs) sold shares worth Rs 2,109.34 crore on Tuesday, according to exchange data.
Elsewhere in Asia, stock markets in Seoul, Tokyo, Shanghai and Hong Kong traded in the green.
U.S. markets closed in positive territory on Tuesday.
The 30-share BSE benchmark fell 631.83 points or 1.04 percent to close at 60,115.48 on Tuesday. The Nifty shed 187.05 points or 1.03 percent to end at 17,914.15.
Brent crude, the international oil benchmark, fell 0.72% to $79.52 a barrel.
