April 23, 2024

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Markets fall in early trade amid weak global trends

Asia’s stock exchanges in Seoul, Tokyo, Shanghai, and Hong Kong were trading at a lower level.

As a result of a negative trend in the world markets and ongoing withdrawals of foreign funds, equity benchmarks declined early on Monday.

Following a shaky start, the 30-share BSE Sensex lost 495.53 points, reaching 61,686.14. Similar to this, the higher-volume NSE Nifty dropped 147.15 points to 18,349.45.

The Sensex pack’s main laggards included Asian Paints, Titan, Bajaj Finance, Infosys, Bajaj Finserv, and UltraTech Cement.

ITC and Dr. Reddy’s were both trading profitably.

Equity markets in Asia were trading lower in Seoul, Tokyo, Shanghai, and Hong Kong.

On Friday, the U.S. markets had a negative closing price.

As markets awaited a flurry of rate decisions from the U.S. Federal Reserve, the European Central Bank, and others, Asian shares declined on Monday while the dollar drifted higher at the start of a busy week, according to Mohit Nigam, Head of PMS at Hem Securities.

The Sensex had dropped 389.01 points, or 0.62 percent, to conclude the day on Friday at 62,181.67 to 18,496.60, the Nifty had dropped by 112.75 points, or 0.61%.

Benchmark Brent crude for international oil prices increased 0.71 percent to $76.64 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) sold shares worth 158.01 crore on Friday, making them net sellers in the capital markets.