Stock Market LIVE Update: Sensex dropped more than 2,200 points in 4 selling days; Nifty settled under 17,650: 10 points
Market breadth was low with 1,037 shares advancing while 2,339 stocks declined on the BSE.
New Delhi:
India’s share benchmark on Friday extended its losses to a fourth straight session on selling pressure on banking shares, consumer goods and metals. BSE Sensex 30 shares fell 427 points or 0.72% to close at 59,037, while the broader NSE Nifty hit 140 points or 0.79% lower at 17,617. During the day, the 30-stock BSE index reached the lowest level of the day at 58,621; and Nifty hit a low of 17,486 before limiting some of the losses. Sensex has dropped more than 2,200 points in the last four trading sessions. Both indexes have fallen more than 3% respectively this week.
Here are your 10 points for this big story:
-
Investors lost Rs 9.73 lakh crore of assets in the four-day plunge on Dalal Street, with the market capitalization (m-cap) of BSE-listed companies falling to Rs 270 lakh crore. compared to Rs 280 lakh crore on Monday.
-
“FIIs (Foreign Institutional Investors) have been net sellers in January so far in India. Inflationary pressures, tightening monetary policy, rising bond yields, high crude oil prices In addition to global factors, the domestic market will be watching for third quarter results (Q3FY22), management commentary and the 2022-23 Union Budget. “, said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
-
The expectation that the US Federal Reserve will quickly raise interest rates to combat inflation has had a strong impact on global indexes. The sell-off also hit bonds, pushing Treasury yields to a two-year high. Higher yields and rising interest rates tend to make risky assets like emerging market stocks less attractive, leading to an outflow of money from the sector.
-
Back home, mid-cap and small-cap stocks hit lower levels as the Nifty Midcap 100 index fell 2.39% and the Nifty Smallcap 100 index fell 2.28%.
-
14 out of 15 industry gauges – compiled by the National Stock Exchange – are colored red. Nifty PSU Bank and Nifty Consumer Durables Pharma underperform this metric, falling 3.05% and 2.96% respectively. Nifty FMCG (Fast Moving Consumer Goods) hit a higher 0.36%.
-
On the stock-specific front, Bajaj Finserv was the biggest loser in Nifty as the stock fell 5.09% to Rs 16,379.95. Tech Mahindra, Coal India, Shree Cement and Divi’s Lab are also among the laggards.
-
In contrast, Bajaj Auto, Hindustan Unilever, Maruti Suzuki India, HDFC Bank and Hero MotoCorp were among the gainers.
-
Market breadth was low with 1,037 shares advancing while 2,339 stocks declined on the BSE.
-
On the 30-stock BSE platform, Bajaj Finserv, TechM, Tata Steel, Bharti Airtel, IndusInd Bank, L&T, Infosys and Bajaj Finance suffered the most with a drop of 5.37%.
-
HUL, Maruti, HDFC twins (HDFC and HDFC Bank), Nestle, Kotak Mahindra Bank, and TCS were among the gainers on the BSE.
