Markets decline in early trade after 3 days of rally

Image Source: ANI Representative Image

Benchmark equity indices edged lower in early trading on Tuesday after three days of rallying. The 30-share BSE Sensex declined 216.73 points to 64,741.96 while the Nifty slipped 63.05 points to 19,348.70. Among the Sensex firms, ICICI Bank, Power Grid, HDFC Bank, Bharti Airtel, Asian Paints and Larsen and Toubro were the biggest laggards while Bajaj Finserv, IndusInd Bank, Bajaj Finance and Sun Pharma were the top gainers .

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

US markets ended with marginal gains on Monday. Global benchmark Brent crude fell 0.49 percent to USD 84.76 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) unloaded equities worth Rs 549.37 crore on Monday.

The benchmark BSE jumped 594.91 points or 0.92 percent to settle at 64,958.69 on Monday. The broader Nifty climbed 181.15 points or 0.94 percent to 19,411.75.

Rupee falls against the dollar

The rupee depreciated by 5 paise to 83.26 against the US dollar in the morning session on Tuesday, tracking the strong overseas American currency and continued outflow of foreign funds.

Forex traders said a negative trend in domestic equity was also weighing on the local unit. At the interbank foreign exchange, the rupee opened at 83.23 then touched 83.26 against the American currency, registering a decrease of 5 paise from its previous close.

(With PTI inputs)

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