Stock markets decline in early trade on foreign fund outflows
Mumbai (PTI): Equity benchmark indices Sensex and Nifty declined on Tuesday morning as foreign fund outflows dampened investors' sentiment.
In a highly volatile trade, the 30-share BSE Sensex dropped 124.95 points to 84,775.76 in early trade. The 50-share NSE Nifty declined 35.35 points to 25,924.15.
From the Sensex firms, Power Grid, Tata Motors Passenger Vehicles, Infosys, Tech Mahindra, Trent and Bharti Airtel were among the major laggards.
However, Reliance Industries, Bharat Electronics, Tata Steel and State Bank of India were among the gainers.
Foreign institutional investors (FIIs) offloaded equities worth Rs 4,171.75 crore on Monday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 4,512.87 crore in the previous trade.
"Nifty’s attempt to break the 2024 September high and set new record is facing resistance particularly from resumption of big FII selling which touched Rs 4,171 crore in the cash market yesterday," V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng index were trading in positive territory.
US markets ended significantly higher on Monday.
"Nifty closed below 26,000 on Monday as selling pressure persisted, raising doubts over whether the recent rally is fading and whether the index can recover after two sharp sessions. Sentiment is dampened by Rs 18,013 crore of FII outflows in November and uncertainty around the India–US trade deal...," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Brent crude, the global oil benchmark, dipped 0.38 per cent to USD 63.13 per barrel.
On Monday, the Sensex declined by 331.21 points or 0.39 per cent to settle at 84,900.71. The Nifty fell by 108.65 points or 0.42 per cent to 25,959.50.
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345 Indian fishermen stranded in Iran return home via Armenia
New Delhi (PTI): A group of 345 Indian fishermen, who were stranded in Iran amid escalating regional tensions, returned to India via Armenia on Saturday, officials said.
External Affairs Minister S Jaishankar thanked his Armenian counterpart Ararat Mirzoyan for assistance in return of the Indian nationals.
The Indian nationals arrived in Chennai this evening, the officials cited above said.
The circumstances that led to them being stranded in Iran were not immediately known.
"Thank FM @AraratMirzoyan and the Government of Armenia for facilitating the evacuation of Indian fishermen today from Iran, through Armenia to India," Jaishankar said on social media.
Over 1,500 Indian nationals have left Iran through land border crossings in Armenia and Azerbaijan since the start of the West Asia conflict over a month ago.
"A group of Indian fishermen, stranded in Iran, are returning home via Armenia today; their flight is expected to reach India this evening," a government statement said.
It said the Ministry of External Affairs continues to closely monitor the evolving situation in the West Asian region, with the safety, security and welfare of the Indian community being accorded the highest priority.
It also made a mention of five Indians being injured in Abu Dhabi on Friday.
According to Abu Dhabi authorities, the Indian nationals were among the 12 people injured by debris from an intercepted missile.
"In an attack in Abu Dhabi, five Indian nationals were injured; four have been discharged, one remains under treatment," the Indian government's statement said.
It said the Indian mission in Abu Dhabi is extending "full" assistance and coordinating with local authorities, adding that their flight is expected to reach India this evening.
