Mumbai: Benchmark indices began the trade on a weak note on Thursday, extending their previous decline amid negative global equity market trends. The 30-share BSE Sensex fell 420.95 points to 60,485.14 in early trade. Similarly, the broader NSE Nifty declined 123.65 points to 17,959.20.
Both the benchmark indices, however, later recovered most of their early lost ground. The Sensex quoted 81 points lower at 60,825.09 and the Nifty traded with a decline of 23.40 points to 18,059.45. From the Sensex pack, Tech Mahindra, Wipro, Tata Consultancy Services, Infosys, Nestle and Power Grid were the major laggards.
Titan, Axis Bank, Bharti Airtel, ITC and Maruti were among the winners. Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong were trading lower. Wall Street had ended significantly lower on Wednesday. "Going by the global cues, domestic equities are likely to see a downward trend in early trade on Thursday, after the US Federal Reserve overnight hiked interest rate on expected lines by 75 basis points but signalled that its tightening campaign is not over yet.