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Markets fall on unabated foreign fund outflows; HDFC Bank, Reliance also drag
Equity benchmark indices Sensex and Nifty declined on Tuesday amid unabated foreign fund outflows and sluggish Asian market cues.
Mumbai: Equity benchmark indices Sensex and Nifty declined on Tuesday amid unabated foreign fund outflows and sluggish Asian market cues.
Fall in index majors HDFC Bank and Reliance Industries also dragged the benchmark indices lower. The 30-share BSE Sensex declined 316.31 points or 0.48 per cent to settle at 65,512.10. During the day, it fell 483.82 points or 0.73 per cent to 65,344.59. The Nifty fell 109.55 points or 0.56 per cent to end at 19,528.75.
Among the Sensex firms, Maruti, NTPC, Tata Motors, ICICI Bank, HDFC Bank, Reliance Industries, JSW Steel, ITC and Mahindra & Mahindra were the major laggards. Bajaj Finance, Larsen & Toubro, Bajaj Finserv and Titan were among the gainers. In Asian markets, Tokyo and Hong Kong settled lower while Shanghai ended in the green. European markets were trading on a mixed note. The US markets ended mostly in the green on Monday. Global oil benchmark Brent crude climbed 0.07 per cent to USD 90.73 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,685.70 crore on Friday, according to exchange data.
FPIs (Foreign Portfolio Investors) turned net sellers and pulled out over Rs 14,767 crore from the Indian equities in September, primarily due to dollar appreciation, steady rise in the US bond yields, and a spike in crude oil prices. Equity markets were closed on Monday on account of Mahatma Gandhi Jayanti. The BSE benchmark had climbed 320.09 points or 0.49 per cent to settle at 65,828.41 on Friday. The Nifty advanced 114.75 points or 0.59 per cent to end at 19,638.30
