Benchmark fairness indices declined in early trade on Thursday, January 25, 2024, dragged by IT shares and steady foreign fund outflows.
The 30-share BSE Sensex declined 227.72 points to 70,832.59. The Nifty dipped 55.7 points to 21,398.25.
Among the Sensex corporations, Tech Mahindra fell almost 4 per cent after the corporate on Wednesday reported a 60 per cent decline in internet revenue to ₹510.4 crore in the December quarter.
HCL Technologies, Infosys, Wipro, Axis Bank, Tata Consultancy Services, HDFC Bank, ICICI Bank, and Kotak Mahindra Bank had been among the many different main laggards.
IndusInd Bank, NTPC, Hindustan Unilever, and the State Bank of India had been among the many gainers.
In Asian markets, Shanghai and Hong Kong had been quoting in the optimistic territory whereas Seoul and Tokyo traded decrease.
The US markets ended on a combined observe on Wednesday.
FIIs ofload about ₹7,000 crore
Foreign Institutional Investors (FIIs) offloaded equities value ₹6,934.93 crore on Wednesday, in line with alternate information.
Global oil benchmark Brent crude climbed 0.36 per cent to USD 80.33 a barrel.
“Volatility is expected due to the January F&O contracts expiry. Negative catalysts include FIIs selling, WTI oil spiking, and diminishing prospects of the US rate cuts,” stated Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
The BSE benchmark jumped 689.76 points, or 0.98 per cent, to settle at 71,060.31 on Wednesday.
The NSE Nifty ended 215.15 points, or 1.01 per cent, increased at 21,453.95.
