After taking a day off, equity benchmark indexes saw a dip in early trade on Monday due to ongoing withdrawals of foreign funds and weak trends in the global market. Despite a strong start, the 30-share BSE Sensex fell 179.06 points to 63,603.74. At 18,998, the Nifty fell 49.25 points.
The biggest laggards among the Sensex companies were Titan, Axis Bank, Larsen & Toubro, Bajaj Finance, Mahindra & Mahindra, Tata Motors, and Power Grid.
The winners were Tata Consultancy Services, UltraTech Cement, Tech Mahindra, and Reliance Industries.
Seoul and Shanghai were quoted in the green in Asian markets, but Tokyo and Hong Kong traded in the negative.
Friday’s US market close was mostly down.
The benchmark for global oil, Brent crude, fell 1.23 percent to USD 89.37 a barrel.
Exchange data shows that on Friday, stocks worth Rs 1,500.13 crore were offloaded by Foreign Institutional Investors (FIIs).
Because of the Israel-Hamas crisis and the sudden increase in the US Treasury yield, Foreign Portfolio Investors (FPIs) have withdrew nearly Rs 20,300 crore from Indian stocks thus far this month.
On Friday, the BSE benchmark increased by 634.65 points, or 1.01%, to end the day at 63,782.80. The Nifty, a broader measure, increased by 190 points, or 1.01%, to 19,047.25.
