Markets decline in early trade on weak global peers, foreign fund outflows

Benchmark equity indices declined in early trade on Friday tracking a weak trend in global markets and fresh foreign fund outflowsFalling for the third day running the 30share BSE Sensex declined 23398 points to 8196718 in early trade The NSE Nifty dropped 60 points to 2508510 reported PTIAmong the 30 Sensex firms State Bank of India UltraTech Cement Reliance Industries NTPC ICICI Bank and Titan were the biggest laggardsBajaj Finance Bajaj Finserv Hindustan Unilever Asian Paints and IndusInd Bank were among the gainersIn Asian markets Seoul Tokyo Shanghai and Hong Kong were trading lowerThe US markets ended mostly in the negative territory on ThursdayForeign Institutional Investors FIIs offloaded equities worth Rs 68869 crore on Thursday after days of remaining buyers according to exchange dataMeanwhile global oil benchmark Brent crude dipped 007 per cent to USD 7264 a barrelThe nearterm trend in the market will be influenced by the US jobs data to be published tonight V K Vijayakumar Chief Investment Strategist Geojit Financial Services said will speaking about the stock market update reported PTIUS Monthly Payrolls data day is here Another poor report will raise chances for a 50 bps cut on September 18 A strong report will limit expectations to a 25 bps cut US markets have been seeing outflows in the last two weeks and we expect this trend to continue as investors take a risk off stance going into Sep 18th Indian markets will take their cues from these global developments Expect volatility and weak markets Positions will be kept light given the event risk this evening from the US Payrolls data said Ajay Bagga Banking and Market Expert aid will speaking about the stock market update reported ANIThe BSE benchmark on Thursday failed to hold on to initial gains and declined 15148 points or 018 per cent to settle at 8220116 reported PTIThe NSE Nifty dipped 5360 points or 021 per cent to 2514510 despite a positive beginning of the trade reported PTIPrashanth Tapse Senior VP Research Mehta Equities Ltd said all eyes are now on the upcoming August US jobs report on FridayRupee opens 2 paise higher at 8395 against US dollarRupee rose by 2 paise to 8395 against the US dollar in early trade on Friday amid a weaker dollar against major currencies overseasAn upward movement in the international crude oil prices negative domestic equity markets and outflow of foreign capital capped gains in the local unit forex traders saidAt the interbank foreign exchange market the rupee opened 1 paisa higher at 8396 against the greenback The domestic unit had settled 4 paise higher at 8397 on ThursdayOn Wednesday the rupee had breached the crucial 84mark for the second time within a month and settled 3 paise lower at 8401 against the American currencyWith inputs from PTI and ANI