Mumbai: Indian equity markets opened on a weak note on Thursday, as continued foreign fund outflows weighed on investor sentiment ahead of the corporate earnings season. Tata Consultancy Services (TCS) is set to announce its December quarter results later in the day, marking the beginning of the earnings calendar.
The benchmark BSE Sensex fell by 284.12 points to 77,864.37 in early trade, while the NSE Nifty declined 86.8 points to 23,602.15.
In the 30-share Sensex pack, stocks of Tata Motors, Larsen and Toubro, Zomato, State Bank of India, Sun Pharma, Power Grid, Bajaj Finance, and NTPC registered notable losses. Conversely, Kotak Mahindra Bank, Infosys, Mahindra & Mahindra, Tata Consultancy Services, and Asian Paints emerged as gainers.
Foreign Institutional Investors (FIIs) sold equities worth Rs 3,362.18 crore on Wednesday, according to exchange data, adding pressure on the domestic markets.
In Asian markets, Seoul and Hong Kong saw gains, while Tokyo and Shanghai traded in the red. Meanwhile, US markets closed mostly higher in the previous session.
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Global oil benchmark Brent crude eased by 0.12 per cent to 76.07 dollars per barrel. On Wednesday, the BSE Sensex dipped 50.62 points to close at 78,148.49, while the NSE Nifty fell 18.95 points to settle at 23,688.95. Investors remain cautious as the markets await cues from the upcoming earnings announcements.
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