Markets pare early gains amid foreign fund outflows, caution ahead of earnings season
Benchmark equity indices Sensex and Nifty began the trade on an optimistic note on Monday but soon turned negative amid fresh foreign fund outflows and caution ahead of the earnings season beginning this week.
The 30-share BSE benchmark Sensex climbed 296.94 points to 79,520.05 in early trade. The NSE Nifty went up by 85.2 points to 24,089.95.
However, later both the benchmark indices turned negative and were trading lower. The 30-share BSE benchmark quoted 68.56 points lower at 79,159.58, and the Nifty traded 48.20 points down at 23,956.55.
From the 30-share blue-chip pack, Bajaj Finance, Titan, Infosys, HCL Tech, Tata Consultancy Services and Tech Mahindra were the biggest gainers.
Kotak Mahindra Bank, Tata Steel, Power Grid and Asian Paints were among the laggards.
In Asian markets, Seoul traded higher while Tokyo, Shanghai and Hong Kong quoted lower.
US markets ended in the positive territory on Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,227.25 crore on Friday after a day's breather, according to exchange data.
Global oil benchmark Brent crude dipped 0.21 per cent to USD 76.35 a barrel.
The BSE benchmark tumbled 720.60 points or 0.90 per cent to close at 79,223.11 on Friday. The Nifty tanked 183.90 points or 0.76 per cent to 24,004.75.
