The Sensex fell about 700 points in early trade on Friday, reflecting significant selling pressure across the board amid a dismal trend in global markets and continued outflows of foreign funds.

Also Read| Trending Stocks: Asian Paints, HUL, PNB, Bajaj, Havells and others in news today

In early trade, the BSE index was down 690.51 points, or 1.16%, at 58,774.11. Similarly, the Nifty dropped 194.10 points, or 1.09%, to 17,562.90.

Also Read| Stocks that should be on your watchlist on Friday, January 21, 2022

The Sensex’s biggest loss was Bajaj Finserv, which fell 2.59%, followed by Infosys, Dr Reddy’s, Tech Mahindra, Sun Pharma, Wipro, and IndusInd Bank. On the other hand, PowerGrid and HUL were the only gainers.

Also Read| Trade Setup: Top 15 things to know before market opens on January 21, 2022

The broader indices were trading in red with the BSE Midcap index falling 0.65%, while the Small cap index was down by 0.08%. The only gaining sectoral indices on the BSE were FMCG up by 0.31% and Auto up by 0.14%, while Consumer Durables down by 1.31%, Bankex down by 1.08%, Healthcare down by 1.01%, Realty down by 0.86%, TECK down by 0.81% were the top losing indices on BSE.

Also Read| Gold, silver and other metal prices on Friday, January 21, 2022

The 30-share BSE index fell 634.20 points, or 1.06%, to 59,464.62 in the previous session. Likewise, the NSE Nifty fell 181.40 points, or 1.01%, to 17,757.

Also Read| Fuel prices: Petrol priced at Rs 95.41, diesel Rs 86.67 in Delhi on January 21, 2022

In other Asian markets, bourses in Hong Kong, Seoul, and Tokyo were trading with significant losses in mid-session trades. During the overnight session, stock markets in the United States saw a significant sell-off.

Also Read| US Stock Market: DJIA, S&P500, Nasdaq and Russell ended in red on Thursday

According to stock exchange statistics, foreign institutional investors (FIIs) were net sellers in the capital market on Thursday, selling shares worth Rs 4,679.84 crore.

Also Read| Bajaj Finserv shares slip over 3% after reporting 3% decline in Q3 net profit

Meanwhile, the international crude oil benchmark Brent crude fell 2.03% to USD 86.59 a barrel. In early trade, the rupee rises one paisa to 74.50 against the US dollar.