Elsewhere, weaker trends in major indices Reliance Industries and ICICI Bank dragged the benchmark index lower in initial trade.
Updated: Wed, 4/26/23 at 12:32pm
Mumbai: Equity benchmarks fell early Wednesday, tracking weakness in U.S. markets and foreign capital outflows.
Elsewhere, weaker trends in major indices Reliance Industries and ICICI Bank dragged the benchmark index lower in initial trade.
The 30-share BSE Sensex shed 54.08 points to 60,076.63, while the broader NSE Nifty shed 24 points to 17,745.25.
Among the Sensex companies, Tata Steel, State Bank of India, Reliance Industries, Bajaj Finserv, NTPC, Kotak Mahindra Bank, ITC, ICICI Bank, HDFC Bank and HDFC are the biggest laggards.
Power Grid, IndusInd Bank, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Nestle were all up.
In Asian markets, quotes in Seoul and Hong Kong rose, while Japan and Shanghai traded lower.
U.S. markets closed sharply lower on Tuesday.
“Markets could be down sharply Wednesday morning amid a 41% plunge in First Republic shares, with major U.S. indicators weakening overnight as new banking problems surface.
“Volatility will continue to be the hallmark of the next two trading sessions given the April futures and options contract expiring on Thursday,” Prashanth Tapse, senior vice president (research) at Mehta Equities Ltd, said in his pre-market note.
The 30-share BSE benchmark index rose 74.61 points or 0.12 percent to close at 60,130.71 on Tuesday. The Nifty gained 25.85 points or 0.15 percent to end at 17,769.25.
Meanwhile, Brent crude, the global oil benchmark, rose 0.42% to $81.11 a barrel.
Foreign portfolio investors (FPIs) sold shares worth Rs 4,073.5 crore on Tuesday, according to exchange data.
