- By Aditya Pratap Singh
- Mon, 24 Jun 2024 10:43 AM (IST)
- Source:PTI
Stock Market: Benchmark stock indices declined in early trade on Monday following weak trends from global markets and fresh foreign fund outflows. The record-high levels also exerted pressure on the benchmark indices. The 30-share BSE Sensex was down 463.96 points at 76,745.94. The Nifty index declined 149.6 points to 23,351.50.
Among the 30 Sensex constituents, IndusInd Bank, State Bank of India, Bajaj Finance, Tata Steel, Adani Ports, and JSW Steel were the major laggards. The gainers included Sun Pharma, ICICI Bank, ITC, and Tata Consultancy Services.
In Asian markets, Seoul, Shanghai, and Hong Kong traded lower, while Tokyo prices rose in the positive territory. US markets ended mostly lower on Friday. According to stock exchange data, foreign institutional investors (FIIs) offloaded shares worth Rs 1,790.19 crore on Friday.
The price of global benchmark Brent crude fell 0.07 percent to $85.18 per barrel. The BSE index fell 269.03 points or 0.35 percent to settle at 77,209.90 on Friday, after snapping its six-day rally. The NSE Nifty index declined 65.90 points or 0.28 percent to end at 23,501.10 points.
The rupee witnessed range-bound trading against the US dollar in early trade on Monday, amid a negative trend in the local stock market. Forex traders said the strength of the US currency in overseas markets and rising crude oil prices also impacted the local unit and restricted the upward movement.
In the interbank foreign exchange market, the local unit opened at 83.52 and rose further to trade at 83.45 against the dollar in early trade, recording a gain of 12 paise over its previous closing level.
(With agencies' input)
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