• Source:JND
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Stock Market:  Benchmark equity indices Sensex and Nifty declined in early trade on Wednesday due to weak trends in banking stocks and Asian markets. The S&P BSE Sensex fell 366.53 points to 80,002.50 points. The NSE Nifty lost 129.25 points to settle at 24,337.60 points.

ICICI Bank, Kotak Mahindra Bank, Sun Pharma, Bajaj Finserv, Axis Bank, State Bank of India, HCL Technologies and Bharti Airtel were among the top losers in the 30-share Sensex pack. In contrast, Tata Motors, IndusInd Bank, Maruti, and Larson & Toubro traded in positive territory, defying broader market trends.

Foreign institutional investors were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 548.69 crore, according to exchange data.
In Asian markets, Seoul, Shanghai and Hong Kong traded lower, while Tokyo was in the positive territory.

U.S. markets ended on a mixed note on Tuesday. Brent crude, the global benchmark, rose 0.48 per cent to $71.46 a barrel. The S&P BSE Sensex rose 363.99 points, or 0.45 per cent, to 80,369.03 on Tuesday. The Nifty rose 127.70 points, or 0.52 per cent, to 24,466.85 points.

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Rupee Open Flat

The rupee, which opened on a flat note, fell by 2 paise to 84.07 against the US dollar in early trade on Wednesday, weighed down by persistent foreign capital outflows and muted domestic equities. Forex traders said the strength of the US currency in overseas markets hurt investor sentiment while falling crude oil prices and any intervention by the Reserve Bank of India (RBI) could support the local currency at lower levels.

In the interbank forex market, the rupee opened at 84.06 against the greenback. It touched 84.07 in early trade, down 2 paise from its previous close.
The rupee had gained 2 paise to close at 84.05 against the US dollar on Tuesday.

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(With Agencies Input)