The Sensex fell more than 130 points in early trade on Wednesday, as global markets remained weak.

Following a bullish start, the market became turbulent in opening trade.  The BSE Sensex was down 131.71 points, or 0.22%, at 58,721.36. Similarly, the NSE Nifty dropped 37.45 points, or 0.21%, to 17,487.65 points.

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NTPC was the Sensex pack’s biggest loss, falling 2.42%, followed by Wipro, Bajaj Finance, HCL Tech, Infosys, and Tech Mahindra.

ICICI Bank, Sun Pharma, Nestle India, HUL, Reliance Industries, and Maruti Suzuki, on the other hand, were among the winners.

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The broader indices were trading in red with the BSE Midcap index falling 0.26%, while the Small cap index was down by 0.10%. The only gaining sectoral indices on the BSE were Capital Goods up by 0.30% and Healthcare up by 0.22%, while IT was down by 1.40%, TECK down by 1.19%, PSU down by 0.55%, Telecom down by 0.54%, Consumer Durables down by 0.48% were the top losing indices on BSE.

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On Monday, the Sensex index finished 465.14 points, or 0.80% higher, at 58,853.07 points. Similarly, the broader NSE Nifty rose 127.60 points, or 0.73%, to 17,525.10. The stock market remained closed on Tuesday for ‘Muharram.’

Stocks in Tokyo, Hong Kong, Shanghai, and Seoul were trading in the red in mid-session trades. Wall Street’s equities finished the overnight session in the red.

The foreign institutional investors (FIIs) bought shares worth a net Rs 1449.7 crore, while domestic institutional investors (DIIs) sold shares worth a net Rs 140.73 crore in the Indian equity market on August 8, as per provisional data available on the NSE. 

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Brent crude, the international standard for crude oil, was down 0.21% at USD 96.11 a barrel. The rupee gained 11 paise against the dollar in early trade on Wednesday, reflecting lower crude oil prices and foreign money inflows.