Sensex falls 400 points in early trading

Business

Nifty tests level 17,690.

Nifty tests level 17,690.

The equity benchmark indices opened on a muted note on Monday, April 11, 2022, with the Sensex falling nearly 400 points in early trade, led by index heavyweights Infosys, Reliance Industries and HDFC twins amid an overall weak trends in Asian markets.

The Sensex was trading 398.98 points lower at 59,048.20 in early trade. The Nifty fell 94.6 points to 17,689.75.

Out of the 30 stock pack, the biggest laggards in early trade were HCL Technologies, Infosys, Wipro, Hindustan Unilever, Reliance Industries, M&M, HDFC and HDFC Bank.

In contrast, NTPC, Power Grid Corporation, Tata Steel and State Bank of India were among the winners.

On Friday, the BSE Sensex rose 412.23 points, or 0.70 percent, to 59,447.18, while the Nifty closed up 144.80 points, or 0.82 percent, to 17,784.35.

In Asia, Hong Kong, Seoul, Shanghai and Tokyo markets traded lower on deals during the session.

Stocks in the US mostly closed lower on Friday.

International oil benchmark Brent crude fell 2.39 percent to $100.32 a barrel.

Overseas institutional investors continued to sell shares worth 575.04 crore, according to stock market data on Friday.

VK Vijayakumar, chief investment strategist at Geojit Financial Services, said Q4 results, particularly from leading financials, and guidance from IT majors will impact the market in the coming days.

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