stock market Sensex and Nifty fell in early trade on Friday after two days of rise amid weak trend in global markets. In early trade, the 30-share BSE Sensex fell 285.28 points to 85,347.40. The 50-share NSE Nifty fell 82.6 points to 26,109.55.

Due to the fall in crude oil prices abroad and foreign capital investment in the domestic stock market, the rupee recovered from the initial loss in early trade on Friday and reached Rs 88.63 per dollar with a slight rise of five paise.

Condition of Sensex companies

Among the Sensex companies, ICICI Bank, Eternal, Adani Ports, Tata Steel and Power Grid were the major laggards. Meanwhile, Mahindra & Mahindra, Tata Motors Passenger Vehicles, Titan and Asian Paints were among the gainers.

Decline seen in Asian markets

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index were trading with losses. The Kospi was trading down more than 3 percent, while the Nikkei 225 index fell more than 2 percent. US markets closed in negative territory on Thursday. The Nasdaq Composite dropped 2.15 percent, the S&P 500 lost 1.56 percent and the Dow Jones Industrial Average fell 0.84 percent.

market instability

VK Vijayakumar, chief investment strategist, Geojit Investments Limited, said that market volatility has increased. The Nasdaq, a barometer of AI trading, closed 2.15 percent lower yesterday, down 4.4 percent from an intra-day peak. Such movements in the market are a sign of further volatility.

The price of Brent crude fell to $ 62.58 per barrel.

The price of global oil standard Brent crude fell 1.26 percent to $ 62.58 per barrel. According to exchange data, foreign institutional investors (FIIs) bought shares worth Rs 283.65 crore on Thursday. Domestic institutional investors (DIIs) also bought shares worth Rs 824.46 crore. On Thursday, the Sensex closed at 85,632.68 with a gain of 446.21 points or 0.52 per cent. It hit a 52-week high of 85,801.70 with a gain of 615.23 points or 0.72 percent during trading. Nifty also closed at 26,192.15 points, up 139.50 points or 0.54 per cent, after touching its 52-week high of 26,246.65 points during the trade.