Stock markets update: For the second consecutive day, equity benchmark indices declined in early trade on Wednesday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 229.04 points to 73,448.09. Meanwhile, the Nifty declined 63.15 points to 22,293.15.
Among the Sensex firms, Power Grid, Tata Steel, Wipro, Tech Mahindra, NTPC, State Bank of India and Bajaj Finserv were the laggards. Kotak Mahindra Bank, ICICI Bank, Axis Bank, Nestle and Sun Pharma were among the gainers.
In Asian markets, Seoul and Tokyo quoted lower while Shanghai and Hong Kong traded with gains. The US markets ended lower on Tuesday.
Global oil benchmark Brent crude climbed 0.13 per cent to USD 82.15 a barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 574.28 crore on Tuesday, according to exchange data.
Rupee against dollar
The rupee stayed flat at 82.90 against the US dollar in early trade on Wednesday, resisting downward pressure from a stronger American currency and volatile crude oil prices in the overseas markets.
The local unit was also dragged down by the negative sentiment in the equity markets, however, it found support due to some fresh inflow of foreign funds, forex traders said. At the interbank foreign exchange, the domestic currency opened at the previous day's closing level of 82.90 and oscillated between 82.89 and 82.91 against the greenback.
(With PTI inputs)
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