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Markets decline in early trade on unabated foreign fund outflows

Benchmark indices Sensex and Nifty dropped in initial trade on Thursday dragged by persistent foreign fund outflows, with investors staying on the sidelines ahead of the earnings season. TCS is kick-starting the December quarter results calendar on Thursday. The 30-share BSE benchmark Sensex dropped 284.12 points to 77,864.37 in early trade. The NSE Nifty dipped 86.8 points to 23,602.15.