Sensex ends 634 points lower, Nifty falls to 17,750; Bajaj Finserv, Infosys, TCS top losers

The Indian market ended lower for the third consecutive session today amid negative global cues. Sensex closed 634 points lower at 59,464 and Nifty fell 181 points to 17757. Bajaj Finserv, Infosys, TCS, Sun Pharma and HCL Tech were the top Sensex losers, falling up to 4.57%. PowerGrid, Airtel and Asian Paints were the top Sensex gainers, rising up to 4.86%%.

BSE mid cap and small cap indices fell 17 points and rose 14 points, respectively.

 Of 30 Sensex stocks, 23  ended lower. Market cap of BSE-listed firms fell to Rs 273.28 lakh crore.  

Market breadth was positive with 1,743 stocks ending higher against 1,664 stocks closing lower on BSE. 77 shares were unchanged.

IT and consumer durables shares were the top sectoral losers with BSE IT index falling 627 points and BSE consumer durables index slipping 363 points.

Share Market updates: Sensex tanks 634 pts, Nifty ends below 17,800; IT shares tumble

Vinod Nair, Head of Research at Geojit Financial Services said,"Persistent concerns over global inflation and likely Fed rate hike acted as the major headwinds for the domestic market to tumble for the third consecutive day. High volatility due to rising bond yields is pressuring foreign investors to pull out funds from highly valued markets like India. As the recent earnings failed to excite the market, the on-going global volatility drained investor confidence."

Foreign institutional investors (FIIs) sold shares worth Rs 2,704 crore on January 19, and domestic institutional investors (DIIs) offloaded shares worth Rs 195 crore, as per provisional data available on NSE.

 On Wednesday, Sensex closed 656 points lower at 60,098 and Nifty fell 174 points to 17,938. Infosys, Asian Paints, HUL, Nestle India and Bajaj Finance were the top Sensex losers, falling up to 2.77%.

Global markets

In early trading, the FTSE 100 in London gained 0.1% to 7,602.94 while Frankfurt's DAX shed less than 0.1% to 15,802.96. The CAC 40 in Paris lost 0.2% to 7,157.90.

On Wall Street, futures for the S&P 500 and Dow Jones Industrial Average were 0.3% higher.

In Asia, the Shanghai Composite Index lost less than 0.1% to 3,555.06 and the Hang Seng in Hong Kong advanced 3.4% to 24,952.35.

The Nikkei 225 in Tokyo gained 1.1% to 27,772.93 after December exports rose 17.5% over a year earlier. The Kospi in Seoul added 0.7% to 2,862.68 while Sydney's S&P ASX 200 gained 0.1% to 7,342.40.