Sensex tumbles over 300 points in early trade; Nifty slips below 17,200

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Mumbai, December 17

Equity benchmark Sensex slumped over 300 points in early trade on Friday, tracking losses in index majors Reliance Industries, HDFC twins and Kotak Bank amid a negative trend in global markets and persistent foreign fund outflow.

The 30-share index declined 319.82 points or 0.55 per cent to 57,581.32 in the opening trade. Similarly, the Nifty fell 91 points or 0.53 per cent to 17,157.40.

Titan was the top loser in the Sensex pack, shedding over 3 per cent, followed by Mamp;M, HUL, Maruti, Asian Paints and IndusInd Bank.

On the other hand, Infosys, TCS, HCL Tech and Tech Mahindra were among the gainers.

In the previous session, the 30-share equity benchmark advanced 113.11 points or 0.20 per cent to settle at 57,901.14, and Nifty rose 27 points or 0.16 per cent to 17,248.40.

Foreign institutional investors remained net sellers in the capital market, as they sold shares worth Rs 1,468.71 crore on Thursday, according to stock exchange data.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with losses in mid-session deals.

Stock exchanges on Wall Street ended on a negative note in the overnight session.

Meanwhile, international oil benchmark Brent crude fell 0.79 per cent to USD 74.43 per barrel. PTI

The Tribune