- By Aditya Pratap Singh
- Thu, 07 Nov 2024 10:43 AM (IST)
- Source:JND
Benchmark equity indices Sensex and Nifty declined in early trade on Thursday after two days of gains, as investors remained on the sidelines ahead of the US Federal Reserve's interest rate decision. Market analysts said the continuous outflow of foreign funds and mixed global cues further weighed on investor sentiment. At around 10:33 am, Sensex was down 924 points and was trading at 79,470 in early trade. While Nifty was down 280 points and was trading at 24,198.
UltraTech Cement, Power Grid, ICICI Bank, Bajaj Finserv, Kotak Mahindra Bank, Bajaj Finance, Adani Ports and Nestle were among the top losers among the 30-share Sensex pack.
Also Read: Tesla Share Price Surges By 15% In Early US Trade After Donald's Trump Win In US President Polls
Tata Steel gained over 1 per cent after it reported a net profit of Rs 758.84 crore for the September 2024 quarter. HCL Technologies, Tata Consultancy Services and JSW Steel also gained.
Foreign institutional investors (FIIs) sold shares worth Rs 4,445.59 crore on Wednesday, according to exchange data. Asian markets were trading higher with Seoul, Shanghai and Hong Kong trading higher while Tokyo was down.
Wall Street was trading sharply higher on Wednesday. Republican leader Donald Trump won the US presidential election for a second term, defeating his Democratic rival Kamala Harris in one of the most remarkable comebacks in US electoral history, rising from the political wilderness four years after being ousted from the White House and his subsequent failed attempt to overturn the 2020 election result.
Global oil benchmark Brent crude rose 0.92 per cent to $75.61 a barrel. The BSE benchmark jumped 901.50 points, or 1.13 per cent, to close at 80,378.13 on Wednesday. The Nifty rose 270.75 points, or 1.12 per cent, to 24,484.05.
