Sensex, Nifty Slide as Foreign Flows Drag Indian Markets
Sensex, Nifty Slide as Foreign Flows Drag Indian Markets
Indian equities fall for a third straight session amid heavy FII outflows and weak global cues, with Bharti Airtel hit by Singtel's stake sale.
The Indian equities slipped for the third straight session as relentless foreign fund outflows and weak global cues dampened sentiment. The 30-share BSE Sensex closed at 83,216.28, down 94.73 points or 0.11%. It had sunk to as low as 82,670.95 during the session, a drop of 640.06 points or 0.76%. The NSE Nifty fell 17.40 points to 25,492.30, retreating slightly by 0.07%.
Among individual stocks, Bharti Airtel shed 4.46% after Singtel disclosed it had sold about 0.8% stake in the company for ₹10,353 crore (SGD 1.5 billion). Other laggards included Tech Mahindra, Trent, Reliance Industries, HCL Technologies, Hindustan Unilever and ITC. In contrast, some names managed to creep into the green, with Bajaj Finance, Tata Steel, Mahindra & Mahindra, and Bajaj Finserv among the gainers.
On the global front, major Asian indices closed lower as European markets traded weaker and U.S. stocks posted losses a day earlier. Brent crude rose about 1.3% to $64.21 per barrel, keeping commodity-linked concerns in play. In a domestic context, foreign institutional investors sold equities worth ₹3,263.21 crore on Thursday, while domestic institutional investors bought ₹5,283.91 crore, data from exchanges showed.
The breadth remained negative as investors weighed the extent of outflows and the potential for a sustained turn in global risk appetite. The session underscored the sensitivity of Indian markets to global cues and foreign flows as traders rotate positions in a choppy environment.
Cover image source: Sensex, Nifty tumble in early trade dragged by foreign fund outflows, weak global peers 🔗
