Stock markets update: Equity benchmark indices declined in early trade on Thursday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 168.91 points to 65,507.02 in early trade. The Nifty declined 48.45 points to 19,627 points.
However, later both bounced back to quote in the positive territory. in the green amid optimism due to fresh foreign fund inflows. The Sensex traded 101.16 points up at 65,777.64 while the Nifty quoted with a gain of 23 points at 19,698.45.
Among the Sensex firms, Bajaj Finance, Power Grid, Bajaj Finserv, JSW Steel, Titan and Tata Steel were the major laggards. NTPC, Tata Consultancy Services, Tata Motors and HCL Technologies were among the gainers.
Asian and US markets
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower. The US markets ended with gains on Wednesday. Global oil benchmark Brent crude declined 0.75 per cent to USD 80.57 a barrel. Foreign Institutional Investors (FIIs) turned buyers on Wednesday as they bought equities worth Rs 550.19 crore after unabated offloading of shares, according to exchange data.
Rupee declines against dollar
Meanwhile, the rupee declined by 9 paise to 83.18 against the US dollar in early trade on Thursday due to a firm greenback in the overseas markets.
FII inflows and crude oil prices extending losses, however, helped the rupee restrict the fall, forex dealers said. At the interbank foreign exchange market, the rupee opened lower at 83.18 against the US currency. It moved in a tight range in morning deals.
(With PTI inputs)
