Due to the weak trend in the global markets, the two-day rally in the stock markets came to an end and the Sensex and Nifty declined in the early trade on Thursday. The pressure increased due to the breaking of shares of Reliance Industries and IT companies. Meanwhile, the 30-share BSE Sensex fell 341 points to 57,873.59 in early trade after a weak opening. At the same time, the National Stock Exchange’s Nifty was trading at 17,054.10 points with a loss of 97.8 points.

Asian Paints, Wipro, HCL Technologies, Infosys, Reliance Industries, HDFC, Power Grid and Kotak Mahindra Bank were the biggest losers in the Sensex. On the other hand, Tata Motors, Nestle, Larsen & Toubro and Bharti Airtel were trading with gains.

In Asian markets, Seoul, Japan and Shanghai markets were in losses while Hong Kong markets were trading in profit. US markets closed with a sharp decline on Wednesday. In the last trading session, the 30-share BSE Sensex closed at 58,214.59 points, up 139.91 points, or 0.24 percent, on Wednesday. At the same time, the 50-share National Stock Exchange’s Nifty also closed at 17,151.90 points with a gain of 44.40 points, or 0.26 percent. Meanwhile, global oil benchmark Brent crude was down 0.91 per cent at $75.99 per barrel. According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 61.72 crore on a net basis on Wednesday.