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Markets reduce in early deals on network: The markets come down on profit booking in early trade

Submitted by admin on September 25th, 2024

Equity benchmarks BSE Sensex and Nifty tumbled in early trade today with the benchmark BSE Sensex shedding 171 points to 84,743.04 and the Nifty 48.70 points to touch 25,891.70. Out of the Sensex firms, Tech Mahindra, Asian Paints, HCL Technologies, Nestle, Adani Ports, Infosys, Tata Motors and State Bank of India were on the low side.

Mumbai: The equity benchmark indices edged lower in early Wednesday’s trading on profit taking after the record run and ahead of the monthly derivatives expiry.

BSE index 30-share Sensex fell down to 84,743.04 in early trade by 171 points. NSE Nifty fell 48.7 points to end at 25891.70.

Out of the 30 Sensex firms, Tech Mahindra, Asian Paints, HCL Technologies, Nestle, Adani Ports, Infosys, Tata Motors and State Bank of India were the biggest underperformers.

The gainers included Power Grid, Mahindra & Mahindra, HDFC Bank and Maruti.

FIIs also sold Indian equities for Rs 2,784.14 crore on Tuesday, reported the exchanges.

“The monthly expiry on Thursday could keep the intra-day trades range bound but, bullish undertone and dominant growth story ahead would ensure that markets regain lost ground at regular intervals,” added Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Among the Asian markets Seoul was down, while Tokyo,Tsingtao and Hong Kong global markets were up.

The market on the US closed on Tuesday at higher ground from previous days.

The global oil barometer, Brent crude fell 0.28 per cent to $74.96 per barrel.

The BSE benchmark also fluctuated between peaks and troughs throughout Tuesday, ending 14.57 points or 0.02 per cent lower at 84,914.04. It gained 234.62 points or 0.27 per cent intraday to hit a record high of 85, 163.23 during early trade.

The Nifty eked out a marginal gain of 1.35 points or 0.01 per cent to 25,940.40. During the day, it climbed 72.5 points or 0.27 per cent to hit a new record intra-day high of 26,011.55.