Stock markets: Equity benchmark indices declined in early trade on Friday amid weak global market trends and foreign fund outflows. The 30-share BSE Sensex declined 314.56 points to 72,782.72 after a weak beginning. The NSE Nifty dropped 101.65 points to 22,045.

From the Sensex basket, Mahindra & Mahindra, Infosys, Axis Bank, HCL Technologies, NTPC and Asian Paints were the major laggards. Bharti Airtel, Power Grid, State Bank of India and IndusInd Bank were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading lower. The US markets ended in negative territory on Thursday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,356.29 crore on Thursday, according to exchange data.

Rupee against dollar

The rupee depreciated 12 paise to 82.96 against the US dollar in early trade on Friday, weighed down by a strong American currency and a negative trend in domestic equities.

Forex traders said foreign fund outflows and elevated crude oil prices in the international market also dented investors’ sentiments. According to interbank foreign exchange, the rupee opened at 82.95 against the dollar and touched a low of 82.96 in the initial trade, registering a fall of 12 paise over its previous close.

(With PTI inputs)

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