Markets pare early gains; trade lower amid continuous foreign fund outflows
Mumbai, August 23
Equity benchmark indices began the trade on a bright note on Wednesday but later pared their gains to quote lower amid mixed global market trends and continuous foreign fund outflows.
The BSE Sensex climbed 216.07 points to 65,436.10 in the early trade. The NSE Nifty gained 53.75 points to 19,450.20.
Later, both the benchmark indices pared their early gains and were trading in the negative territory. The BSE benchmark quoted 76.55 points lower at 65,143.48 and the Nifty traded at 19,376.35, down 20.1 points.
From the Sensex pack, Tata Steel, Axis Bank, JSW Steel, Infosys, Tata Consultancy Services, Reliance Industries, UltraTech Cement and NTPC were the major gainers.
Jio Financial Services, Bharti Airtel, ITC, Kotak Mahindra Bank, IndusInd Bank and Mahindra & Mahindra were among the laggards.
In Asian markets, Tokyo and Hong Kong were quoting in the green while Seoul and Shanghai traded lower.
The US markets ended on a mixed note on Tuesday.
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