Stock markets update: Equity benchmark indices declined in early trade on Tuesday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 297.97 points to 73,574.32. Meanwhile, the Nifty declined 86.05 points to 22,319.55 points.
Notably, Nifty had hit an all-time high of 22,440.90 points in Monday's early trade.
Among the Sensex firms, HCL Technologies, Tata Consultancy Services, ICICI Bank, Infosys, Axis Bank and Reliance Industries were the major laggards. Tata Motors, Mahindra & Mahindra, State Bank of India and NTPC were among the gainers.
In Asian markets, Seoul, Tokyo and Hong Kong were trading lower while Shanghai quoted in the green. The US markets ended in negative territory on Monday. Global oil benchmark Brent crude dipped 0.18 per cent to USD 82.64 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 564.06 crore on Monday, according to exchange data.
Rupee against dollar
The rupee declined 2 paise to 82.92 against the US dollar in early trade on Tuesday, tracking a stronger American currency against major overseas rivals and the outflow of foreign funds from domestic capital markets.
Though a downward trend in the crude oil prices cushioned the Indian currency, it was weighed down by the subdued equity market sentiment, forex traders said. At the interbank foreign exchange, the domestic currency opened at 82.90 and slipped further to trade at 82.92 against the greenback, registering a loss of 2 paise from its previous close.
(With PTI inputs)
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