Share market decline in early trade dragged down by IT counters

Mumbai: Equity benchmark indices declined in initial trade on Wednesday, falling for the third day running, amid weak trends in IT counters and foreign fund outflows.

Weak trends in global markets also added to the negative sentiments.

The 30-share BSE Sensex fell 168.88 points to 59,558.13. The broader NSE Nifty declined 48.35 points to 17,611.80.

Among the Sensex firms, Infosys, HCL Technologies, Asian Paints, Hindustan Unilever, Tata Consultancy Services, Wipro, Bajaj Finserv and Nestle were the major laggards.

Tata Steel, Axis Bank, Mahindra & Mahindra, Titan and Bharti Airtel were among the winners.

In Asian markets, Japan, Shanghai and Hong Kong were trading lower, while Seoul quoted in the green.

The US markets had ended mostly lower on Tuesday.

Foreign Portfolio Investors (FPIs) again offloaded equities worth Rs 810.60 crore on Ttuesday, according to exchange data.

The 30-share BSE benchmark fell 183.74 points or 0.31 per cent to settle at 59,727.01 on Tuesday. The Nifty dipped 46.70 points or 0.26 per cent to end at 17,660.15.

Meanwhile, global oil benchmark Brent crude dipped 0.13 per cent to USD 84.66 per barrel.