- By Aditya Pratap Singh
- Mon, 30 Sep 2024 10:09 AM (IST)
- Source:JND
Stock Market: Benchmark indices fell in early trade on Monday amid foreign capital outflows and broadly weak Asian markets, where Japan's Nikkei index fell by nearly 5 percent. The decline in frontline equities such as ICICI Bank and Reliance Industries also dragged down the market.
The BSE Sensex fell 464.22 points to 85,107.63 in early trade. The NSE Nifty fell 133.85 points to close at 26,045.10.
Tech Mahindra, ICICI Bank, Mahindra & Mahindra, Axis Bank, Reliance Industries, and Ultratech Cement were the top losers among the 30 Sensex firms. Tata Steel, NTPC, Hindustan Unilever JSW Steel, Titan and Asian Paints were among the gainers.
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"This surge has been triggered by hopes of revival in the Chinese economy in response to the monetary and fiscal stimulus announced by the Chinese authorities," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
In Asian markets, Seoul and Tokyo were down, while Shanghai and Hong Kong were up. On Monday morning, Japan's benchmark Nikkei 225 index fell by nearly 5 percent. U.S. markets ended on a mixed note on Friday. Foreign institutional investors sold equities worth Rs 1,209.10 crore on Friday, according to exchange data.
Brent crude, the global benchmark, rose by 0.71 percent to $72.49 a barrel. The BSE benchmark Sensex fell 264.27 points, or 0.31 percent, to 85,571.85 on Friday. Intraday, it rose 142.13 points, or 0.16 percent, to a new high of 85,978.25.
The Nifty fell 37.10 points, or 0.14 percent, to 26,178.95 points after rising 61.3 points, or 0.23 percent, during the session to hit an all-time intraday high of 26,277.35 points.
(With PTI's Input)
