Sensex, Nifty slip in early trade amid weak global cues

Equity benchmark indices Sensex and Nifty edged lower in early trade on Thursday tracking a weak trend in global marketsThe 30share BSE Sensex declined 21487 points to 8434478 in early tradeThe 50share NSE Nifty dipped 561 points to 2576245From the Sensex firms Sun Pharma Tata Motors Passenger Vehicles Mahindra amp Mahindra NTPC Bharat Electronics and Maruti were among the biggest laggardsHowever HCL Tech Tata Consultancy Services Tech Mahindra and ITC were among the gainersIn Asian markets South Koreas Kospi Japans Nikkei 225 index and Hong Kongs Hang Seng index quoted lower while Shanghais SSE Composite index traded in positive territoryUS markets ended lower on WednesdayGlobal markets enter todays session on a cautious footing following a sharp overnight selloff in the US The SampP 500 Nasdaq and Dow extended their losing streak as investors booked profits in highvaluation technology and AI stocksInvestor sentiment also remains cautious ahead of the release of US consumer price inflation data with divided views in the market over the future trajectory of monetary policy prompting participants to stay defensive and avoid aggressive positioning Ponmudi R CEO of Enrich Money an online trading and wealth tech firm saidAsian markets opened on a weak note mirroring the subdued tone on Wall Street after several sessions of sustained selling he addedForeign Institutional Investors FIIs turned buyers on Wednesday as they bought equities worth Rs 117171 crore according to exchange dataDomestic Institutional Investors DIIs also bought stocks worth Rs 76894 crore in the previous tradeOn the institutional front FIIs turned net buyers on December 17 after remaining sellers for the previous 14 sessions purchasing equities worth Rs 1171 crore while DIIs also remained supportive with net buying of Rs 768 crore Amruta Shinde Technical amp Derivative Analyst at Choice Equity Broking Private Limited saidMarket participants are likely to track global equity trends crude oil price movements and institutional fund flows for incremental direction during the session Shinde addedBrent crude the global oil benchmark climbed 065 per cent to USD 6007 per barrelOn Wednesday the Sensex edged lower by 12021 points or 014 per cent to settle at 8455965The Nifty declined by 4155 points or 016 per cent to 2581855This story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever