Stock markets decline in early trade tracking weak global peers, fresh foreign fund outflows
Mumbai (PTI): Equity benchmark indices Sensex and Nifty declined in initial trade on Wednesday, tracking weak global market trends and fresh foreign fund outflows.
The 30-share BSE Sensex dropped 135.8 points to 84,537.22 in early trade. The 50-share NSE Nifty dipped 53.85 points to 25,856.20.
From the Sensex firms, Tata Motors Passenger Vehicles, HDFC Bank, Bajaj Finserv, NTPC, and Sun Pharma were among the laggards.
However, Infosys, Hindustan Unilever, Tata Consultancy Services, HCL Tech, Tech Mahindra and ICICI Bank were among the gainers.
In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng index quoted lower while Japan's Nikkei 225 index traded higher.
US markets ended in negative territory on Tuesday.
"Global stock markets continue to trade under pressure, extending a volatile phase that has pulled major US indices like the S&P 500 and Nasdaq into their longest losing streaks in months. The weakness is not a panic-driven crash but a broad and healthy correction following an overheated rally through most of 2025.
"The biggest drag has come from cooling enthusiasm in AI and mega-cap technology stocks," Ponmudi R, CEO of Enrich Money, an online trading and wealth tech firm, said.
He further said that adding to the pressure, the Federal Reserve's tone has turned more hawkish in recent days.
Foreign institutional investors (FIIs) offloaded equities worth Rs 728.82 crore on Tuesday. However, domestic institutional investors (DIIs) bought stocks worth Rs 6,156.83 crore, according to exchange data.
Brent crude, the global oil benchmark, dipped 0.25 per cent to USD 64.73 per barrel.
On Tuesday, the Sensex declined 277.93 points, or 0.33 per cent, to settle at 84,673.02. The Nifty dipped 103.40 points, or 0.40 per cent, to 25,910.05.
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K'taka remains central to Aequs' strategy, says min Patil amid row over firm's investment in TN
Bengaluru (PTI): Karnataka Commerce and Industries Minister M B Patil on Monday asserted that Aequs continues to expand in the state and that its proposed investment in neighbouring Tamil Nadu was a business decision aimed at diversification, not a shift away from Karnataka.
Reacting to criticism on social media over reports that the Karnataka-based firm had signed a major investment deal in Tamil Nadu's Krishnagiri district for setting up a specialised aerospace and defense manufacturing cluster, he said the state government was fully aware of the company's plans and remained confident about its long-term commitment to Karnataka.
"While we welcome every major investment in India, would like to clarify a few points," Patil said in a post on 'X'.
Aequs was significantly expanding its footprint within Karnataka, including a Rs 3,000 crore investment in Kolar for electronics manufacturing.
"Its recently approved Rs 1,500 crore ECMS project will also be grounded in the state. Karnataka remains central to its long-term strategy," he said.
Patil added that the government had prior knowledge of the TN proposal.
The government was already informed and aware that the TN investment is a business decision aimed at geographic diversification and de-risking operations, not a shift away from Karnataka.
"Healthy competition between states strengthens India's manufacturing ecosystem," he said.
Emphasising the state's focus on high-technology sectors, Patil said, "We remain committed to deepening Karnataka's leadership in aerospace and advanced manufacturing, and our engagement with industry partners is strong and ongoing."
The Aequs Group has pledged Rs 4,000 crore to bolster Tamil Nadu's aerospace manufacturing capabilities at the SIPCOT-Shoolagiri Industrial Park in Krishnagiri district.
The group proposes to establish a specialised aerospace and defense manufacturing cluster for the production of aircraft engines, gearbox components, and precision engineering parts. This initiative is expected to provide employment to 7,000 individuals.
