Sensex, Nifty decline in early trade after 4-day rally

Benchmark stock indices fell in preliminary trading on Friday in very volatile trading as investors preferred to stay on the sidelines after a four-day rally in the markets.

The 30-share BSE Sensex fell 73.79 points, to 60,575.59. The broader NSE Nifty Index fell by 17.85 points, to 17,897.20.

Of the Sensex companies, Bajaj Finserv, Asian Paints, Hindustan Unilever, Axis Bank, IndusInd Bank, Power Grid, Bajaj Finance and Kotak Mahindra Bank were the major laggards.

Among the winners were Wipro, Tech Mahindra, Tata Consulting Services, Sun Pharma and Reliance Industries.

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In Asian markets, Seoul traded lower, while Japan, Shanghai and Hong Kong traded in the green.

US markets ended Thursday with significant gains.

“Markets could see a choppy open as SGX Nifty sees a sharp spin even as major US indices rebound sharply from their recent decline to end sharply higher overnight. Nifty can restore 18,000 psychological markers.

“FII also continued to buy local shares and they bought shares worth Rs 1,653 crore in yesterday’s trading, while they were slow Crude oil Less than $80 a barrel bodes well for the Indian economy, Prashanth Tapsi, Senior Vice President (Research), Mehta Equities Limited said in a pre-market opening quote.

Also read: The rupee rose 4 pounds to 81.75 against the US dollar

He added that with the global macroeconomic scenario still looking very bleak and local markets having performed sharply in recent sessions, profit-taking may be on the cards going forward.

the The mad cow disease index rose 348.80 points, or 0.58 percent, to settle at 60,649.38 on Thursday. the Advanced Stylish 101.45 points, or 0.57 percent, to close at 17,915.05 points.

Meanwhile, the global oil benchmark, Brent crude, rose 0.41 percent to $78.69 a barrel.

Foreign institutional investors (FIIs) were buyers on Thursday buying shares worth Rs 1,652.95 crore, according to exchange data.