The Indian market ended lower for the fourth consecutive session today amid negative global cues. Sensex closed 427 points lower at 59,034 and Nifty fell 139 points to 17,617.
Sensex, which was racing towards the 62K level despite rising Omicron cases in India, has lost 2,274 points since January 17 this year. The 30-stock index closed at 59,034 today against the 61,308 level on January 17.
Similarly, Nifty has tumbled 691 points in four days. The index closed at 17,617, down 139 points today against the 18,308 level on January 17.
BSE mid cap and small cap indices fell 512 points and lost 598 points, respectively. Of 30 Sensex stocks, 22 ended lower.
Market cap of BSE-listed firms fell to Rs 269.84 lakh crore against the previous session's Rs 273.28 lakh crore.
Bajaj Finserv, Tech Mahindra and Tata Steel were the top Sensex losers, falling up to 5.37%. HUL, Maruti and HDFC were the top Sensex gainers, rising up to 2.68%. Of 30 Sensex stocks, 22 ended lower. Market breadth was negative with 1,016 stocks ending higher against 2,362 stocks closing lower on BSE. 88 shares were unchanged.
IT and consumer durables shares were the top sectoral losers with BSE IT index falling 587 points and BSE consumer durables index slipping 1,327 points.
Deepak Jasani, Head of Retail Research, HDFC Securities said, "Nifty ended the week with the worst losses in about two months. It fell 3.5% over the week. Advance decline ratio fell sharply to much under 1:1. This suggests that the nervousness has spread to the broader markets. The US Fed meet next week may not allow a sharp bounce. 17,288-17,376 could be the next support while 17747-17798 could be the next resistance for the Nifty."
Foreign institutional investors (FIIs) sold shares worth Rs 4,679 crore on January 20, and domestic institutional investors (DIIs) bought shares worth Rs 769 crore, as per provisional data available on NSE.
On Thursday, 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%.
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