Stock market update: Markets decline in early trade after record rally

Representational Image

Benchmark equity indices declined in early trade on Tuesday due to emergence of profit-taking after a record rally.

According to latest stock market update, weak trends from Asian peers also contributed to the tepid investors' sentiment in the domestic equity market during the early deals, reported news agency PTI.

IN PHOTOS: One dead, 9 injured after drunk man turns steering wheel of BEST bus in Mumbai`s Lalbaug

3 months agoPHOTO GALLERY

The 30-share BSE Sensex declined 78.28 points to 82,481.56 in early trade. The NSE Nifty dipped 23.6 points to 25,255.10, as per the stock market update, reported PTI.

Among the 30 Sensex firms, Bajaj Finance, Bajaj Finserv, Infosys, ICICI Bank, Tech Mahindra and Titan were the biggest laggards.

ITC, Sun Pharma, Hindustan Unilever and Nestle were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The US markets were closed on Monday for the Labour Day holiday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,735.46 crore on Monday, according to exchange data, reported PTI.

Global oil benchmark Brent crude declined 0.40 per cent to USD 77.21 a barrel.

Surging for the 10th straight session on Monday, the BSE benchmark jumped 194.07 points or 0.24 per cent to settle at an all-time closing high of 82,559.84. During the day, it surged 359.51 points or 0.43 per cent to reach a new intra-day record peak of 82,725.28, reported PTI.

The Nifty climbed 42.80 points or 0.17 per cent to settle at a lifetime closing high of 25,278.70, taking its winning run to the 13th day in a row. During the day, it soared 97.75 points or 0.38 per cent to hit a fresh all-time intra-day peak of 25,333.65, reported PTI.

In a 13-day gaining streak since August 14, the Nifty has rallied 4.72 per cent or nearly 1,140 points. The BSE benchmark has jumped 2.65 per cent or 2,135.16 points in its 10 straight days of gains, reported PTI.

Rupee falls 4 paise to 83.95 against US dollar

The rupee declined 4 paise to 83.95 against the US dollar in early trade on Tuesday due to a stronger greenback in global markets and weak domestic manufacturing data.

A decline in the domestic equity market also contributed to the drop in the local unit, forex traders said.

At the interbank foreign exchange market, the rupee opened at 83.94, lower by 3 paise from its previous close before dropping further to 83.95. The unit had settled at 83.91 against the US dollar on Monday.

(With inputs from PTI)