<p>Equity benchmark indices declined in early trade on Monday in tandem with a weak trend in global markets and foreign fund outflows.</p>
<p>The 30-share <a href="https://www.mid-day.com/business/stock-market/article/stock-market-update-markets-decline-in-early-trade-on-weak-global-peers-foreign-fund-outflows-23387788" target="_blank" rel="none noopener">BSE Sensex</a> dropped 281.74 points to 80,902.19. The NSE Nifty declined 81.45 points to 24,770.70.</p>
<p>Among the 30 Sensex firms, Adani Ports, Tata Steel, NTPC, Power Grid, Mahindra &amp; Mahindra and Tata Motors were the biggest laggards.</p>
<p>Hindustan Unilever, Asian Paints, Infosys and Tata Consultancy Services were among the gainers.</p>
<p>In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.</p>
<p>The<a href="https://www.mid-day.com/business/stock-market/article/stock-market-update-markets-rebound-in-early-trade-on-foreign-fund-inflows-23387097" target="_blank" rel="none noopener"> US markets</a> ended significantly lower on Friday.</p>
<p>"The stock markets have taken a sharp bearish turn, with sentiment shifting from optimism about cooling US inflation to concerns over a potential US economic slowdown. Friday's weaker-than-expected jobs data has reignited fears of a recession, further compounded by soft manufacturing updates," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said while speaking on the stock market update, reported PTI.</p>
<p><a href="https://www.mid-day.com/business/business-news/article/sensex-nifty-slump-in-early-trade-tracking-weak-global-markets-23386407" target="_blank" rel="none noopener">Foreign Institutional Investors</a> (FIIs) offloaded equities worth Rs 620.95 crore on Friday, according to exchange data.</p>
<p>"Two factors are likely to weigh on markets: one, the outcome of the US presidential elections and two, the Fed decision on rate cut," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said while speaking on the stock market update, reported PTI.</p>
<p>Global oil benchmark<a href="https://www.mid-day.com/business/stock-market/article/stock-market-update-markets-decline-in-early-trade-after-record-rally-23385755" target="_blank" rel="none noopener"> Brent crude</a> climbed 1.24 per cent to USD 71.94 a barrel.</p>
<p>The BSE benchmark had tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93 on Friday. The NSE Nifty dropped 292.95 points or 1.17 per cent to 24,852.15.</p>
<h2>Rupee trades in narrow range against US dollar in early trade</h2>
<p>The rupee traded in a narrow range on Monday and appreciated 1 paisa to 83.94 against the American currency, amid a muted trend in domestic equities.</p>
<p>Forex traders said easing crude oil prices and overall weakness in the dollar index supported the rupee, but the Reserve Bank's active intervention kept the rupee in a tight range.</p>
<p>At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.96 against the American currency and touched 83.85 in initial trade. It was later trading at 83.95 against the greenback, unchanged from its previous close.</p>
<p>On Friday, the rupee gained 2 paise to close at 83.95 against the US dollar.</p>
<p>The Indian rupee is expected to be range bound with the market awaiting to see when the Reserve Bank of India (RBI) would allow a move above 84.00.</p>
<p><em><strong>(With inputs from PTI)</strong></em></p><p>
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Stock market update: Equity benchmark indices declined in early trade on Monday in tandem with a weak trend in global markets and foreign fund outflows

Stock market update: Despite decline in global markets, Indian markets open flat

Stock market update: Sensex, Nifty climb in early trade on rally in global markets, foreign fund inflows

Among the 30 Sensex firms, Adani Ports, Tata Steel, NTPC, Power Grid, Mahindra & Mahindra and Tata Motors were the biggest laggards; the 30-share BSE Sensex dropped 281.74 points to 80,902.19

Stock market update: Markets decline in early trade on weak global peers, foreign fund outflows

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