Stock markets update: Equity benchmark indices declined in early trade on Monday amid weak trends in Asian markets and unabated foreign fund outflows. In the early trade, the 30-share BSE Sensex fell 48.06 points to 74,071.33. Meanwhile, the Nifty declined 7 points to 22,486.55 points. 

Among the Sensex firms, Tata Steel, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank, Infosys, and Tata Motors were the major laggards. Bajaj Finserv, UltraTech Cement, ITC, and Bajaj Finance were among the gainers.

In Asian markets, Seoul and Tokyo were quoting lower, while Hong Kong and Shanghai traded in the green territory The US markets ended in the negative territory on Friday.

Global oil benchmark Brent crude dipped 0.68 per cent to USD 81.52 a barrel. The stock markets were closed on Friday for Mahashivratri. Foreign Institutional Investors (FIIs) bought equities worth Rs 7,304.11 crore on Thursday, according to exchange data.

Rupee trades in narrow range against US dollar in early trade

Meanwhile, the rupee witnessed range-bound trading in initial deals against the US dollar on Monday, as the support from fresh foreign fund inflows was negated by a negative trend in domestic equities. Forex traders said the rupee exhibited strength supported by a weak dollar and easing crude oil prices. 

At the interbank foreign exchange, the rupee opened at 82.74 against the dollar, but soon pared the losses and touched 82.64 against the greenback in initial trade, higher by 3 paise from its previous close.

(With PTI inputs)

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