<p>Equity benchmark Sensex dropped over 400 points in early trade on Thursday, dragged by losses in index majors Reliance Industries, Infosys and HDFC Bank amid foreign fund outflow and a weak trend in global markets.</p>.<p>The 30-share BSE index was trading 404.94 points or 0.82 per cent lower at 48,775.37, and the broader NSE Nifty declined 113.50 points or 0.78 per cent to 14,435.90.</p>.<p>IndusInd Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Maruti, SBI, Axis Bank, Bajaj Finance, Reliance Industries, Infosys and HDFC Bank.</p>.<p>On the other hand, ONGC, Titan, L&T and Dr Reddy’s were among the gainers.</p>.<p>In the previous session, the Sensex ended 871.13 points or 1.74 per cent lower at 49,180.31, and the Nifty declined 265.35 points or 1.79 per cent to 14,549.40.</p>.<p>Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 1,951.90 crore, as per exchange data.</p>.<p>"The uncertainty in the market continues with increasing risk arising from the second wave of Covid-19 attack in India in the context of a third wave in parts of Europe," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.</p>.<p>Volatility is here to stay for some time before stability emerges, he said, adding that a major trend in the market now is the comeback of pharma stocks in recent days and the weakness in banking stocks.</p>.<p>Elsewhere in Asia, bourses in Shanghai and Hong Kong were in the red in mid-session deals, while Tokyo and Seoul were trading on a positive note.</p>.<p>Top bourses on Wall Street ended with significant losses in overnight trade.</p>.<p>Meanwhile, the global oil benchmark Brent crude was trading 1.41 per cent lower at $63.50 per barrel.</p>
<p>Equity benchmark Sensex dropped over 400 points in early trade on Thursday, dragged by losses in index majors Reliance Industries, Infosys and HDFC Bank amid foreign fund outflow and a weak trend in global markets.</p>.<p>The 30-share BSE index was trading 404.94 points or 0.82 per cent lower at 48,775.37, and the broader NSE Nifty declined 113.50 points or 0.78 per cent to 14,435.90.</p>.<p>IndusInd Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Maruti, SBI, Axis Bank, Bajaj Finance, Reliance Industries, Infosys and HDFC Bank.</p>.<p>On the other hand, ONGC, Titan, L&T and Dr Reddy’s were among the gainers.</p>.<p>In the previous session, the Sensex ended 871.13 points or 1.74 per cent lower at 49,180.31, and the Nifty declined 265.35 points or 1.79 per cent to 14,549.40.</p>.<p>Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 1,951.90 crore, as per exchange data.</p>.<p>"The uncertainty in the market continues with increasing risk arising from the second wave of Covid-19 attack in India in the context of a third wave in parts of Europe," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.</p>.<p>Volatility is here to stay for some time before stability emerges, he said, adding that a major trend in the market now is the comeback of pharma stocks in recent days and the weakness in banking stocks.</p>.<p>Elsewhere in Asia, bourses in Shanghai and Hong Kong were in the red in mid-session deals, while Tokyo and Seoul were trading on a positive note.</p>.<p>Top bourses on Wall Street ended with significant losses in overnight trade.</p>.<p>Meanwhile, the global oil benchmark Brent crude was trading 1.41 per cent lower at $63.50 per barrel.</p>