Mumbai:- After a sharp rise in crude oil prices and weak trends in global markets, the benchmark indices of the Indian stock market Sensex and Nifty fell in early trade on Thursday. After three consecutive days of gains, a decline was recorded today. During this time, investors lost wealth worth about 13 lakh crores. Experts believe that the continuous outflow of foreign funds has also affected the market.
Till the time the news was written, the 30-share BSE Sensex fell by 1,953.21 points to 74,750.92 in early trade. At the same time, the 50-share NSE Nifty slipped by 580.05 points to 23,197.75. Of the 30 Sensex companies, HDFC The bank fell over 3 percent after Atanu Chakraborty abruptly resigned as chairman of the country's second-largest lender, citing ethical concerns.
Apart from this, Larsen & Toubro, Axis Bank, Mahindra & Mahindra, Eternal and Bajaj Finance were also among the major laggards. While NTPC and Power Grid were among the lone gainers.
Meanwhile, global oil benchmark Brent crude rose 3.77 percent to $111.4 a barrel. In Asian markets, South Korea's benchmark KOSPI, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading significantly lower.