scorecardSensex slips below 65,000 in morning trade on weak global trends, foreign fund outflows
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Sensex slips below 65,000 in morning trade on weak global trends, foreign fund outflows

Sensex slips below 65,000 in morning trade on weak global trends, foreign fund outflows
Stock Market1 min read
  • Tata Motors, State Bank of India, JSW Steel, Bajaj Finance, Tata Steel, Bajaj Finserv are the top laggards.
  • Asian peers in Seoul, Tokyo, Shanghai and Hong Kong are also trading in the negative territory.
  • Foreign Institutional Investors offloaded equities worth Rs 3,073.28 crore on Friday.

Benchmark equity indices the Nifty and the Sensex, declined in early trade on Monday, falling for the third day running, amid weak global market trends and fresh foreign fund outflows. Caution also prevailed in the market ahead of announcement of wholesale and retail inflation numbers for July later in the day.

The 30-share BSE Sensex has fallen 0.5% slipping below the 65,000 mark while the NSE Nifty declined over 15o points and is trading just above 19,300 at the time of publishing.

From the Sensex pack, Tata Motors, State Bank of India, JSW Steel, Bajaj Finance, Tata Steel, Bajaj Finserv, Tech Mahindra, Power Grid, Mahindra & Mahindra, Tata Consultancy Services, HCL Technologies and HDFC Bank were the major laggards. Sun Pharma and Nestle were the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the negative territory.

The US markets ended mostly lower on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,073.28 crore on Friday, according to exchange data.

"The market construct has turned a bit negative. The spike in the dollar index to 103 and the US 10-year bond yield rising to 4.18 are negative for capital flows to emerging markets. The FPI sell figure of Rs 3,073 crore last Friday is in tune with these negative trends," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude declined 0.85% to USD 86.07 a barrel.

The BSE benchmark fell by 365.53 points or 0.56% to settle at 65,322.65 on Friday. The Nifty declined by 114.80 points or 0.59% to end at 19,428.30.

(Text inputs from PTI)

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