PTI, September 28, 2022, 10:56 am IST
Representative image (Source: Shutterstock)
Mumbai: Benchmarks began trading on a bearish note on Wednesday with the Sensex dropping 609 points in early trading, amid a weak trend in Asian markets.
The 30-stock Sensex BSE fell 608.8 points to 56,498.72 in initial trading. Similarly, the broader NSE Nifty was down 182 points at 16,825.40.
Among the Sensex pack of 30 stocks, NTPC, IndusInd Bank, HDFC, Axis Bank, Reliance Industries, ITC, HDFC Bank and Asian Paints were the main laggards.
Sun Pharma, Mahindra & Mahindra, Dr Reddy’s and Power Grid were among the winners.
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading sharply lower.
US markets ended on a mixed note on Tuesday.
“FIIs have deserted local equities over the past few sessions and this could also hurt market sentiment. The street is now eagerly awaiting the outcome of the September RBI MPC meeting on Friday,” said Prashanth Tapse – analyst Research, Senior Vice President (Research), Mehta Equities Ltd.
The 30-stock BSE index ended Tuesday 37.70 points or 0.07% lower at 57,107.52. The Nifty fell 8.90 points or 0.05% to 17,007.40.
Meanwhile, the international crude oil benchmark Brent fell 1.25% to $85.19 a barrel.
Foreign institutional investors on Tuesday sold shares worth Rs 2,823.96 crore, according to data available from the BSE.