Due to continuous withdrawal of foreign funds, domestic markets declined in early trade, later recovered
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Mumbai: Due to the weak trend of global markets and continuous withdrawal of foreign funds, the local stock markets opened with a negative trend on Wednesday. The 30-share BSE Sensex fell 45.66 points to 65,734.60 in early trade. The NSE Nifty was trading at 19,562.15 with a loss of 12.75 points.
However, they gained momentum later and the Sensex was trading at 65,826.24 with a gain of 45.98 points and the Nifty was trading at 19,591.05 with a gain of 16.15 points. IndusInd Bank, Tata Steel, JSW Steel, Tata Motors, Asian Paints and Maruti were among the losers on the Sensex.
On the other hand, shares of Bharti Airtel, UltraTech Cement, HDFC Bank, ITC and Reliance Industries were in profit. In other Asian markets, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hangseng were in losses. Whereas South Korea’s Cospi was in profit.
US markets closed with a negative trend on Tuesday. Global oil benchmark Brent crude was up 0.07 per cent at $90.10 a barrel. Foreign institutional investors sold shares worth Rs 1,725.11 crore on Tuesday.
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