In early trade, the Sensex has dropped 375 points due to negative cues from global markets

14 Jun 2022 , 10:21 AM

On Tuesday (14-06-2022), equity benchmarks declined for the third day in a row, with the Sensex down 375 points in early trade as investors remained cautious ahead of the Federal Reserve meeting decision.

The local equities markets have been weighed down by unabated foreign money outflows. At 52,471.98, the 30-share BSE benchmark was down 374.72 points. To 15,674.25, the Nifty dropped 100.15 points.

Asian Paints, Tech Mahindra, IndusInd Bank, HDFC Bank, Titan, and HDFC were the main laggards in early trade within the Sensex pack. Bharti Airtel, Power Grid, NTPC, M&M, and Bajaj Finserv, on the other side, were among the gainers.

Markets in Seoul, Tokyo, Hong Kong, and Shanghai were trading down in mid-session trades elsewhere in Asia.

On Monday (13-06-2022), stock markets in the United States finished substantially down. On Monday, the 30-share BSE Sensex fell 1,456.74 points, or 2.68 percent, to 52,846.70. To 15,774.40, the Nifty fell 427.40 points or 2.64 percent.

“The Fed’s next policy statement is slated for Wednesday, and investors will be looking for any hints as to how aggressively the central bank plans to raise rates,” said Mohit Nigam, Head – PMS, Hem Securities.

Meanwhile, Brent crude, the international oil standard, dipped 0.02 percent to $122.24 per barrel. According to exchange statistics, foreign institutional investors (FIIs) remained net sellers in the capital market on Monday, selling shares worth Rs 4,164.01 crore.