Indian equity markets fall in early trade amid weak global cues

PTI, Oct 17, 2022, 11:56 AM IST

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Mumbai: Equity benchmark indices fell in early trade on Monday amid weak global market trends and continuous foreign fund outflows.

The 30-share BSE Sensex fell 137.84 points to 57,782.13 in early trade. Similarly, the broader NSE Nifty declined 52.75 points to 17,132.95.

Among the Nifty components, Mahindra & Mahindra, Adani Enterprises, JSW Steel, and Larsen & Toubro were the major laggards.

On the other hand, Bajaj Auto, State Bank of India, ICICI Bank, and Eicher Motors were among the winners in early trade.

In Asia, markets in Tokyo, Shanghai, and Hong Kong quoted lower, while Seoul traded higher.

Wall Street had ended significantly lower on Friday.

Volatility is likely to be the hallmark as Nifty bulls brace for rough sessions in the near term as things do not look pretty good right now at Dalal Street, said Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd.

The BSE benchmark had jumped 684.64 points or 1.20 percent to settle at 57,919.97 on Friday. The Nifty climbed 171.35 points or 1.01 percent to 17,185.70.

International oil benchmark Brent crude was trading 0.59 percent higher at USD 92.17 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the Indian capital market on Friday as they offloaded shares worth Rs 1,011.23 crore, as per exchange data.