Sensex falls 565 factors in early commerce on weak world market tendencies

Benchmark indices began the commerce on a weak word on Wednesday with the Sensex falling 564.77 factors, following feeble world market tendencies and chronic international capital outflows.

The 30-share BSE Sensex was buying and selling 564.77 factors decrease at 52,612.68. The NSE Nifty dipped 162.4 factors to fifteen,687.80.

Among the Sensex pack, IndusInd Bank, Hindustan Unilever, Bajaj Finserv, Titan, Kotak Mahindra Bank and Bajaj Finance had been the foremost laggards in early commerce.

Sun Pharma and Bharti Airtel had been the one gainers.

Elsewhere in Asia, markets in Tokyo, Shanghai, Seoul and Hong Kong had been buying and selling decrease in mid-session offers.

The US markets additionally ended decrease on Tuesday.

Meanwhile, worldwide oil benchmark Brent crude dipped 0.95 per cent to USD 116.86 per barrel.

“The sharp pullback witnessed in the US last Friday has lost steam and the markets have again turned weak. The decline in commodity prices last week has not sustained and Brent crude is back to above USD 117,” mentioned V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Even although there is no such thing as a consensus on whether or not the US economic system will slip into recession or not, there are clear indicators of the economic system slowing down, he added.

“In this context of conflicting signals, markets are likely to remain choppy,” Vijayakumar mentioned.

Posting beneficial properties for a fourth session in a row on Tuesday, the Sensex settled up 16.17 factors or 0.03 per cent at 53,177.45. The NSE Nifty gained 18.15 factors or 0.11 per cent to fifteen,850.20.

Foreign institutional buyers (FIIs) remained web sellers within the capital market, as they bought shares value Rs 1,244.44 crore on Tuesday, as per alternate knowledge.