Equity Indices Decline Amid Foreign Outflows, Sensex and Nifty Up Slightly

30 Oct 2023 , 01:37 PM

Equity benchmark indices saw a decline on Monday, following a brief respite, influenced by continuous foreign fund outflows and sluggish global market trends. At the time of writing, Sensex was trading at Rs 64,080, reflecting a 0.47% increase compared to the previous day’s close. Nifty, on the other hand, was trading at Rs 19,126, showing a 0.42% increase over the previous day’s close.

Among the Sensex-listed companies, major laggards included Tata Motors, Mahindra & Mahindra, Maruti, Power Grid, Bajaj Finance, Larsen & Toubro, Titan, and Axis Bank. Notable gainers on the market were Reliance Industries, Tech Mahindra, UltraTech Cement, and Tata Consultancy Services.

US markets closed with mostly lower performance on Friday. Brent crude, the global oil benchmark, dropped by 1.23 %, reaching USD 89.37 per barrel.

Foreign Institutional Investors (FIIs) sold off equities worth Rs 1,500.13 crore on Friday, based on exchange data. Foreign Portfolio Investors (FPIs) have withdrawn over Rs 20,300 crore from Indian equities this month, mainly in response to a significant increase in US treasury yields.

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