Sensex drops 96.18 pts, Nifty above 16,600 at opening

Sensex drops 96.18 points, Nifty above 16,600 in opening session

The Bombay Stock Exchange. Credit: PTI Photo

Equity benchmark Sensex dropped over 95 points in early trade on Friday, tracking losses in index majors HDFC twins, Infosys and ICICI Bank amid unabated foreign fund outflows.

The 30-share index was trading 96.18 points or 0.17 per cent lower at 55,852.92. Similarly, the broader NSE Nifty slipped 23.70 points or 0.14 per cent to 16,613.20.

M&M was the top loser in the Sensex pack, shedding over 1 per cent, followed by HDFC, Tech Mahindra, ICICI Bank, Infosys and IndusInd Bank.

On the other hand, UltraTech Cement, Bajaj Finserv, L&T, Tata Steel, Bajaj Finance and Bharti Airtel were among the gainers.

In the previous session, the BSE index ended just 4.89 points or 0.01 per cent higher at 55,949.10. And the broader NSE Nifty advanced 2.25 points or 0.01 per cent to its fresh closing peak of 16,636.90.

Foreign institutional investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 1,974.48 crore on Thursday, as per provisional exchange data.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul were trading with gains in mid-session deals, while Tokyo was in the red.

Equities in the US ended on a negative note in the overnight session.

Meanwhile, international oil benchmark Brent crude surged 1.03 per cent to USD 71.80 per barrel. 

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