Markets decline in early trade amid weak global trends

MUMBAI: Equity benchmark indices declined in initial trade on Thursday in line with weak global markets and continuous foreign fund outflows.

The 30-share BSE Sensex went lower by 383.19 points to 60,527.09. The broader NSE Nifty declined 110.7 points to 18,011.80.

From the Sensex pack, Tata Motors, Bajaj Finance, UltraTech Cement, Bajaj Finserv, Hindustan Unilever, Mahindra & Mahindra, Maruti and HDFC were the major laggards.

Tata Steel and Bharti Airtel were the winners.

Elsewhere in Asia, equity markets in Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

Markets in the US had ended lower on Wednesday.

''Volatility is likely to be the hallmark for the day as traders roll over December F&O contracts,'' said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd.

The 30-share BSE benchmark had dipped 17.15 points or 0.03 per cent to settle at 60,910.28 on Wednesday. The Nifty went lower by 9.80 points or 0.05 per cent to end at 18,122.50.

International oil benchmark Brent crude dipped 0.31 per cent to USD 83 per barrel.

Foreign Institutional Investors (FIIs) offloaded shares worth Rs 872.59 crore on Wednesday, according to exchange data.