Sensex falls over 500 points in early trade amid weak global markets

PTI

Mumbai, September 16

Benchmark indices began the trade on a weak note on Friday with the Sensex falling over 500 points in early trade amid feeble global market trends.

Foreign fund outflows and fears of recession in the global economy have dented investor sentiments.

The 30-share BSE benchmark tanked 538.2 points to 59,395.81 in early trade. The Nifty declined 161.3 points to 17,716.10.

From the Sensex pack, Mahindra & Mahindra, Tech Mahindra, TCS, Wipro, HDFC, Infosys, Axis Bank, HCL Technologies and Power Grid were among the major laggards.

IndusInd Bank, Bajaj Finance, Sun Pharma and Asian Paints were among the early gainers.

Asian markets in Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The US markets had ended lower on Thursday.

The BSE benchmark ended 412.96 points or 0.68 per cent lower at 59,934.01 on Thursday. The Nifty dipped 126.35 points or 0.7 per cent to settle at 17,877.40.

Meanwhile, the international oil benchmark Brent crude climbed 0.18 per cent to USD 91 per barrel.

Foreign institutional investors offloaded shares worth Rs 1,270.68 crore from the domestic market on Thursday, according to data available with the BSE. 

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