Stock markets update: After three consecutive days of positive rally, the stock markets of Wednesday once again opened in red amid weak global clues. The 30-share BSE Sensex dropped 81.35 points to 71,304.86 in early trade. Meanwhile, the Nifty fell by 27 points to 21,517.85.
Among the Sensex firms, NTPC, Power Grid, Bajaj Finserv, State Bank of India, JSW Steel, Tata Steel, Larsen & Toubro and Axis Bank were the major laggards.
HCL Tech, Titan, Nestle, ICICI Bank, IndusInd Bank and Tata Consultancy Services were among the gainers.
In Asian markets, Tokyo traded in the green while Seoul, Shanghai and Hong Kong were quoting lower. The US markets ended mostly lower on Tuesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 990.90 crore on Tuesday, according to exchange data. Global oil benchmark Brent crude climbed 0.22 per cent to USD 77.76 a barrel.
Rupee falls against dollar
The rupee depreciated 4 paise to 83.17 against the US dollar in early trade on Wednesday amid selling of equities by foreign investors and an upward movement in crude oil prices. Subdued sentiment in the domestic equity markets also weighed on the Indian currency, forex traders said.
At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the greenback, down 4 paise from its previous close.
(With PTI inputs)
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