Stock markets update: Equity benchmark indices opened in the red on the second consecutive day in early trade on Thursday amid weak global cues. In the early trade, the 30-share BSE Sensex declined 251.42 points to 73,214.97. Meanwhile, the Nifty dropped by 68.50 points to 22,231.50 points.
From the Sensex basket, Larsen & Toubro went lower by over 3 per cent after March quarter earnings. Tata Consultancy Services, Tech Mahindra, ITC, Bajaj Finserv, Bharti Airtel and Reliance Industries were the other laggards. Mahindra & Mahindra, Titan, Maruti and Tata Motors were among the gainers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,669.10 crore on Wednesday, according to exchange data. In Asian markets, Tokyo, Shanghai and Hong Kong were trading with gains while Seoul traded lower. Wall Street ended on a mixed note.
Brent crude futures, the global oil benchmark, rose 0.43 per cent to USD 83.94 per barrel. On the domestic equity market front, the 30-share BSE Sensex declined 176.2 points or 0.24 per cent to 73,290.19 in early trade. The NSE Nifty fell 49.75 points or 0.22 per cent to 22,252.75 points.
Rupee against dollar
The rupee appreciated 8 paise to 83.44 against the US dollar in early trade on Thursday, as the American currency retreated from its elevated levels. Forex traders said a negative trend in domestic equities and foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.49 against the greenback. It later touched 83.44 in initial trade, registering a rise of 8 paise from its previous close.
(With inputs from PTI)
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