Markets fall sharply in early trade; Sensex tumbles 817 points

PTI

Mumbai, September 26

Benchmark indices fell sharply in early trade on Monday, with the Sensex tumbling nearly 817 points amid weak global market trends and foreign fund outflows.

Falling for the fourth day running on Monday, the 30-share BSE Sensex tanked 816.72 points to 57,282.20 points in the initial trade. The NSE Nifty fell 254.4 points to 17,072.95 points.

Among the 30-share Sensex pack, Power Grid, Tata Steel, Maruti, Mahindra & Mahindra, NTPC, IndusInd Bank, Axis Bank and Titan were the major laggards in the early trade.

Nestle and Hindustan Unilever were the only gainers.

Elsewhere in Asia, markets in Seoul, Tokyo and Shanghai were trading lower while Hong Kong quoted marginally higher.

The US markets ended in the negative territory on Friday.

Meanwhile, the international oil benchmark Brent crude declined 0.59 per cent to USD 85.64 per barrel.

Foreign institutional investors offloaded shares worth a net Rs 2,899.68 crore on Friday, according to the data available with the BSE. 

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