Markets fall in early trade on weak global trends

Mumbai: Benchmark indices fell in early trade on Monday amid weak global market trends and continuous foreign fund outflow.

The 30-share BSE benchmark declined 288.8 points to 57,138.12 in early trade. The broader NSE Nifty dipped 79.4 points to 17,014.95.

Among the 30-share Sensex pack, Kotak Mahindra Bank, Titan, Maruti, Asian Paints, Infosys, IndusInd Bank, Tata Steel and ITC were major laggards.

NTPC, Sun Pharma, Reliance Industries and UltraTech Cement were among the winners.

Elsewhere in Asia, markets in Shanghai and Hong Kong were quoting lower, while Tokyo traded higher.

The US markets ended lower on Friday.

The BSE benchmark had jumped 1,016.96 points or 1.80 per cent to settle at 57,426.92 on Friday. The Nifty climbed 276.25 points or 1.64 per cent to end at 17,094.35.

Meanwhile, the international oil benchmark Brent crude futures jumped 2.62 per cent to USD 87.37 per barrel.

Foreign institutional investors offloaded shares worth Rs 1,565.31 crore on Friday, according to data available with BSE.

Foreign investors turned sellers in September, pulling out Rs 7,600 crore from Indian equity markets.