Sensex drops over 140 points in early trade

Equity benchmark Sensex declined over 140 points in early trade on Thursday as index-heavyweights Reliance Industries, Infosys and HDFC twins witnessed intense selling pressure. The 30-share BSE index was trading 140.79 points or 0.28 per cent lower at 50,114.96.

Similarly, the broader NSE Nifty slipped 31.30 points or 0.21 per cent to 14,758.65.

IndusInd Bank the top loser in the Sensex pack, fell around 2.50 per cent, followed by Axis Bank, ICICI Bank, HDFC Bank, Asian Paints, Tech Mahindra, L&T and HCL Tech.

On the other hand, ONGC, M&M, Bajaj Auto, NTPC, Maruti, ITC and Bajaj Finance were among the gainers.

In the previous session, the 30-share BSE benchmark ended at 50,255.75, up 458.03 points or 0.92 per cent and the broader NSE Nifty had surged 142.10 points or 0.97 per cent to its fresh closing record of 14,789.95.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,520.92 crore on a net basis on Wednesday, as per exchange data.

Elsewhere in Asia, bourses in Tokyo, Hong Kong, Seoul and Shanghai were trading with losses.

Meanwhile, the global oil benchmark Brent crude was trading 0.89 per cent higher at USD 58.98 per barrel.