Stock markets update: Equity benchmark indices opened in negative on Wednesday, on the third day running in 2024, amid the recent sharp rally and lack of trends from global markets. In the early trade, the 30-share BSE Sensex declined 271.85 points to 71,620.63. Meanwhile, the Nifty also fell by 71.35 points to 21,594.45 points.
Among the Sensex firms, JSW Steel, Tata Steel, Wipro, Infosys, HCL Technologies, Tata Consultancy Services, Tech Mahindra and Power Grid were the major laggards. Bajaj Finserv, ITC, Hindustan Unilever and Reliance Industries were among the winners.
In Asian markets, Seoul, Shanghai and Hong Kong were trading lower. The US markets ended mostly lower on Tuesday. Global oil benchmark Brent crude declined 0.03 per cent to USD 75.87 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,602.16 crore on Tuesday, according to exchange data.
Rupee gains against dollar
The rupee gained 4 paise to 83.28 against the US dollar in early trade on Wednesday, supported by easing crude oil prices. However, forex traders said the Indian currency remained under pressure amid a negative trend in domestic equities. At the interbank foreign exchange, the domestic currency opened at 83.30 and touched 83.28 against the greenback in initial trade, registering a rise of 4 paise from its previous close.
(With PTI inputs)
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