Markets quote lower in early trade after two days of rally

MUMBAI: Equity benchmarks declined in initial trade on Wednesday after rallying in the past two days amid mixed trends in global markets and foreign fund outflows.

The 30-share BSE Sensex declined 213.66 points to 60,713.77. The broader NSE Nifty dipped 63.95 points to 18,068.35.

From the Sensex pack, Infosys, Bajaj Finserv, Tata Consultancy Services, HCL Technologies, Bharti Airtel, Reliance Industries, State Bank of India, Wipro, ITC and IndusInd Bank were the major laggards.

Titan, Power Grid, Asian Paints, NTPC, Kotak Mahindra Bank and Mahindra & Mahindra were the winners.

Elsewhere in Asia, equity markets in Seoul, Tokyo were trading lower, while Shanghai and Hong Kong quoted in the green.

Markets in the US ended mostly lower on Tuesday.

The BSE benchmark had jumped 361.01 points or 0.60 per cent to settle at 60,927.43 on Tuesday. The Nifty climbed 117.70 points or 0.65 per cent to end at 18,132.30.

International oil benchmark Brent crude climbed 0.13 per cent to USD 84.44 per barrel. Foreign institutional investors (FIIs) offloaded shares worth Rs 867.65 crore on Tuesday, according to exchange data.