Sensex slides 227 factors in early commerce; Nifty falls to 16,517 degree

Benchmark indices continued to fall on Monday, with the Sensex declining 227 factors in early commerce as traders remained cautious amid unabated promoting by international funds and elevated crude oil costs.

The 30-share BSE Sensex was buying and selling 226.7 factors decrease at 55,542.53 factors. The broader NSE Nifty fell by 67.05 factors to 16,517.25 factors.

From the Sensex pack, Tech Mahindra, Asian Paints, Wipro, Hindustan Unilever Limited, Bajaj Finserv, Infosys, Tata Steel and Titan had been the most important laggards.

In distinction, M&M and Axis Bank had been the gainers.

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Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong had been buying and selling within the inexperienced.

Stock markets within the US had ended decrease on Friday.

“The market temper has turned a bit cautious with better-than-expected US jobs information (3.90 lakh jobs) in May. This good financial information is adverse from the market perspective because it means the Fed is more likely to tighten aggressively with out bothering a couple of attainable recession.

“For India, elevated crude prices and a USD 23 billion trade deficit in May are areas of concern. Even though FPI selling has come down in early June, they are likely to sell more at higher levels,” V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated.

The BSE Sensex ended 48.88 factors or 0.09 per cent decrease at 55,769.23 factors on Friday. The NSE Nifty dipped 43.70 factors or 0.26 per cent to complete at 16,584.30 factors.

Meanwhile, worldwide oil benchmark Brent crude jumped 0.79 per cent to USD 120.63 per barrel.

Foreign institutional traders offloaded shares price a internet Rs 3,770.51 crore on Friday, in response to inventory alternate information.