Equity benchmark indices witnessed a downfall for the third consecutive day on Wednesday, weighed down by weak trends in IT counters and foreign fund outflows. The negative sentiment was also fueled by weak global market trends. The BSE Sensex declined by 168.88 points to 59,558.13, while the NSE Nifty fell 48.35 points to 17,611.80.
Among the major Sensex firms, Infosys, HCL Technologies, Asian Paints, Hindustan Unilever, Tata Consultancy Services, Wipro, Bajaj Finserv, and Nestle were the major laggards, while Tata Steel, Axis Bank, Mahindra & Mahindra, Titan, and Bharti Airtel were among the winners.
Foreign Portfolio Investors (FPIs) have been offloading equities worth Rs 810.60 crore on Tuesday, according to exchange data. This has been a continuous trend in recent times, leading to concerns among investors.
In Asian markets, Japan, Shanghai, and Hong Kong were trading lower, while Seoul was trading in the green. Meanwhile, global oil benchmark Brent crude dipped 0.13 per cent to USD 84.66 per barrel.
The ongoing decline in the equity markets has been a cause for concern among investors. However, experts suggest that the markets are likely to bounce back in the near future. It is essential for investors to be patient and avoid taking hasty decisions in such times of volatility.
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