Markets pare early gains; trade lower amid continuous foreign fund outflows

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Markets pare early gains; trade lower amid continuous foreign fund outflows


The BSE Sensex climbed 216.07 factors to 65,436.10 in early trade on August 23.
| Photo Credit: PTI

Equity benchmark indices started the trade on a vivid be aware on August 23 however later pared their positive factors to cite lower amid blended international market developments and continuous foreign fund outflows.

The BSE Sensex climbed 216.07 factors to 65,436.10 in early trade. The NSE Nifty gained 53.75 factors to 19,450.20.

Later each the benchmark indices pared their early positive factors and have been buying and selling within the adverse territory. The BSE benchmark quoted 76.55 factors lower at 65,143.48 and the Nifty traded at 19,376.35, down 20.10 factors.

From the Sensex pack, Tata Steel, Axis Bank, JSW Steel, Infosys, Tata Consultancy Services, Reliance Industries, UltraTech Cement and NTPC have been the main gainers.

Jio Financial Services, Bharti Airtel, ITC, Kotak Mahindra Bank, IndusInd Bank and Mahindra & Mahindra have been among the many laggards.

In Asian markets, Tokyo and Hong Kong have been quoting within the inexperienced whereas Seoul and Shanghai traded lower.

The U.S. markets ended on a blended be aware on Tuesday.

“There are no immediate triggers which can take the market sharply up or down. Investors may wait and watch for new data expected this weekend from the U.S. Since the dollar index and the U.S. bond yields remain high, FIIs will not be strong buyers in the market,” stated V.Okay. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude gained 0.15% to $84.16 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities value ₹495.17 crore on Tuesday, in keeping with change knowledge.

The BSE benchmark had eked out a marginal acquire of three.94 factors or 0.01% to settle at 65,220.03 on Tuesday. The Nifty inched up 2.85 factors or 0.01% to settle at 19,396.45.



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