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January 27, 2023 10:18 am

Market benchmark indices trade lower despite firm start

Mumbai, January 20

Equity benchmarks went lower in early trade on Friday amid weak trend in the US markets and decline in shares of index major Reliance Industries.

The 30-share BSE Sensex declined 107.59 points to 60,750.84 in early trade despite a positive beginning. The broader NSE Nifty went lower by 29 points to 18,078.85.

From the Sensex pack, Hindustan Unilever, Nestle, Asian Paints, Titan, Reliance Industries, Bharti Airtel, Maruti and Bajaj Finance were the major laggards.

FMCG major Hindustan Unilever fell nearly 3 percent in initial trade even after reporting a 7.9 percent increase in consolidated net profit at Rs 2,481 crore for the third quarter ended December 31, 2022.

IndusInd Bank, Power Grid, HDFC Bank, HDFC, Tata Motors and State Bank of India were the gainers.

Elsewhere in Asia, equity markets in Seoul, Tokyo, Shanghai and Hong Kong traded in the green.

International oil benchmark Brent crude climbed 0.55 percent to USD 86.63 per barrel.

Foreign Institutional Investors were net buyers in the capital markets and they bought shares worth Rs 399.98 crore, according to exchange data.

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