Stock markets decline amid unabated foreign fund outflows, weak global trends

Mumbai: Benchmark Sensex dropped by nearly 451 points on Monday amid unabated foreign fund outflows, weak trends in the global markets and selling in blue-chip stocks.

In a day marked with volatility, the 30-share BSE benchmark Sensex tumbled 450.94 points or 0.57 per cent to settle at 78,248.13. During the day, it tanked 621.94 points or 0.79 per cent to 78,077.13.

The NSE Nifty declined 168.50 points or 0.71 per cent to 23,644.90.

From the 30 blue-chip pack, Tata Motors, Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank and Infosys were among the biggest laggards.

Zomato, Tech Mahindra, HCL Tech and IndusInd Bank were among the gainers.

Foreign institutional investors (FIIs) offloaded equities worth Rs 1,323.29 crore on Friday, according to exchange data.

In Asian markets, Seoul, Tokyo and Hong Kong settled lower while Shanghai ended higher.

European markets were trading lower. US markets ended in the negative territory on Friday.

Global oil benchmark Brent crude dipped 0.05 per cent to USD 74.13 a barrel.

The BSE benchmark gained 226.59 points or 0.29 per cent to settle at 78,699.07 on Friday. The Nifty rose by 63.20 points or 0.27 per cent to 23,813.40.