Bse Sensex News: Sensex fell over 300 points in early trade on Friday with shares of Reliance Industries, HDFC, HDFC Bank and Kotak Bank going into losses amid negative trend in global markets, continuous outflow of foreign funds.
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The 30-share index was down 319.82 points, or 0.55 per cent, at 57,581.32 in early trade. Similarly, Nifty was trading 91 points or 0.53 percent lower at 17,157.40. Technical indications are that Nifty may weaken further in the coming days. Talking about the hourly chart, the index is working around the low and high low formations. This also indicates weakness in the stock market.
Titan was the biggest loser in the Sensex, falling over three per cent. It was followed by M&M, HUL, Maruti, Asian Paints and IndusInd Bank. On the other hand, Infosys, TCS, HCL Tech and Tech Mahindra were among the gainers.
In the previous session, the Sensex was up 113.11 points or 0.20 per cent at 57,901.14 and the Nifty was up 27 points or 0.16 per cent at 17,248.40. According to stock market data, foreign institutional investors (FIIs) remained net sellers in the capital market and sold shares worth Rs 1,468.71 crore on Thursday.
Among other major Asian stock markets, Shanghai, Hong Kong, Tokyo and Seoul were trading with losses in mid-session deals. Meanwhile, international oil benchmark Brent crude fell 0.79 per cent to $74.43 per barrel.
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