Markets off to weak start on first day of trade of 2024

MUMBAI: Equity benchmark indices declined in early trade on Monday, the first trading day of the New Year 2024, amid profit-taking after the recent sharp rally and lack of trends from global markets.

In 2023, the BSE benchmark jumped 11,399.52 points or 18.73 per cent, and the Nifty climbed 3,626.1 points or 20 per cent.

On Monday, the 30-share BSE Sensex fell 207.29 points to 72,032.97 after a muted beginning. The Nifty declined 46.65 points to 21,684.75.

Among the Sensex firms, Hindustan Unilever, Mahindra & Mahindra, Wipro, Axis Bank, Tata Consultancy Services, NTPC, HDFC Bank and Kotak Mahindra Bank were the major laggards.

Tata Motors, Nestle, IndusInd Bank and Power Grid were among the winners.

Asian markets were closed on Monday for the New Year.

The US markets ended marginally lower on Friday.

Global oil benchmark Brent crude declined 0.14 per cent to USD 77.04 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 1,459.12 crore on Friday.

The BSE benchmark fell 170.12 points or 0.23 per cent to settle at 72,240.26 on the last trading day of 2023 on Friday. The Nifty declined 47.30 points or 0.22 per cent to settle at 21,731.40.