<p>Equity benchmarks Sensex and Nifty fell in early trade on Friday dragged down by banking shares and Reliance Industries along with continuous foreign fund outflows.</p>.<p>The 30-share BSE benchmark tanked 578.19 points to 59,626.87 in initial trade. The broader NSE Nifty fell 144.7 points to 17,747.25.</p>.<p>From the Sensex pack, ICICI Bank, HDFC, Axis Bank, State Bank of India, Reliance Industries, Kotak Mahindra Bank and HDFC Bank were among the major laggards.</p>.<p>Tata Motors, ITC, Mahindra & Mahindra and Tata Steel were among the winners.</p>.<p>Elsewhere in Asia, equity markets in Seoul, Tokyo and Shanghai were trading in the green, while Hong Kong quoted marginally lower.</p>.<p>Markets in the US had ended higher on Thursday.</p>.<p>Stock markets were closed on Thursday on account of Republic Day.</p>.<p>International oil benchmark Brent crude edged up 0.38 per cent to $87.80 per barrel.</p>.<p>Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,393.94 crore on Wednesday, according to exchange data.</p>.<p>"Traders will now gear up for the next 2-big catalysts; interest-rate decision from the Federal Reserve to trickle in on February 1, and the Union Budget for 2023-24 to be presented on the same day," said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd.</p>.<p>The 30-share BSE barometer had plunged 773.69 points or 1.27 per cent to 60,205.06 on Wednesday. The Nifty had declined by 226.35 points or 1.25 per cent to 17,891.95.</p>
<p>Equity benchmarks Sensex and Nifty fell in early trade on Friday dragged down by banking shares and Reliance Industries along with continuous foreign fund outflows.</p>.<p>The 30-share BSE benchmark tanked 578.19 points to 59,626.87 in initial trade. The broader NSE Nifty fell 144.7 points to 17,747.25.</p>.<p>From the Sensex pack, ICICI Bank, HDFC, Axis Bank, State Bank of India, Reliance Industries, Kotak Mahindra Bank and HDFC Bank were among the major laggards.</p>.<p>Tata Motors, ITC, Mahindra & Mahindra and Tata Steel were among the winners.</p>.<p>Elsewhere in Asia, equity markets in Seoul, Tokyo and Shanghai were trading in the green, while Hong Kong quoted marginally lower.</p>.<p>Markets in the US had ended higher on Thursday.</p>.<p>Stock markets were closed on Thursday on account of Republic Day.</p>.<p>International oil benchmark Brent crude edged up 0.38 per cent to $87.80 per barrel.</p>.<p>Foreign Institutional Investors (FIIs) offloaded shares worth Rs 2,393.94 crore on Wednesday, according to exchange data.</p>.<p>"Traders will now gear up for the next 2-big catalysts; interest-rate decision from the Federal Reserve to trickle in on February 1, and the Union Budget for 2023-24 to be presented on the same day," said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd.</p>.<p>The 30-share BSE barometer had plunged 773.69 points or 1.27 per cent to 60,205.06 on Wednesday. The Nifty had declined by 226.35 points or 1.25 per cent to 17,891.95.</p>