- By Aditya Pratap Singh
- Tue, 29 Oct 2024 11:04 AM (IST)
- Source:JND
Stock Markets: Equity benchmark indices declined in early trade on Tuesday on persistent foreign fund outflows and subdued earnings so far reported by corporates. The S&P BSE Sensex was down 322.24 points at 79,682.80 in early trade. The NSE Nifty fell 86.55 points to 24,252.60.
Bharti Airtel fell nearly 3 per cent from the 30-share Sensex pack, but the company reported a 168 per cent year-on-year growth to Rs 3,593 crore for the September quarter. Mahindra & Mahindra, Sun Pharma, Tata Motors, JSW Steel, Infosys and IndusInd Bank were among the other losers.
NTPC, ICICI Bank, Larsen & Toubro and Nestle gained. Foreign institutional investors offloaded equities worth Rs 3,228.08 crore on Monday, according to exchange data. Seoul and Shanghai were lower in the Asian markets while Tokyo and Hong Kong were trading in the green.
Brent crude, the global benchmark, rose 0.18 per cent to $71.55 per barrel. The benchmark BSE jumped 602.75 points or 0.76 per cent to 80,005.04 on Monday. The Nifty rose 158.35 points, or 0.65 per cent, to 24,339.15.
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Rupee opens flat
The rupee opened on a flat note in early trade on Tuesday, falling 1 paise to 84.08 against the US dollar, as persistent foreign fund outflows and strength of the US currency in overseas markets weighed on investor sentiment.
Foreign exchange traders said muted trends in domestic equities and a strong dollar weighed on the local unit while falling crude oil prices and any intervention by the Reserve Bank of India (RBI) could also support the local currency at lower levels. In the interbank forex market, the rupee opened at 84.08 against the greenback. It touched 84.07 in early trade.
(With Agencies Inputs)
