Overall market breadth was weak, with 1,037 shares up, while the BSE lost 2,339 shares.

New Delhi:
India’s stock market benchmark fell for a fourth straight session on Friday amid selling pressure in banks, consumer durables and metals stocks. The 30-share BSE Sensex lost 427 or 0.72% to end at 59,037, while the broader NSE Nifty lost 140 points or 0.79% to end at 17,617. On the day, the 30-share BSE index hit an intraday low of 58,621; Nifty hit a low of 17,486 before limiting some losses. Sensex has plunged more than 2,200 points in the past four sessions. Both indexes have each lost more than 3% this week.

Here’s a 10-point cheat for the big story:

  1. Investors lost Rs 9.73 crore in fortunes in the four-day rout on Dalal Street, with the market capitalisation (m-cap) of BSE-listed companies falling to Rs 2.7 crore from the Rs 2.8 crore mark on Monday.

  2. “FIIs (foreign institutional investors) have been net sellers in India so far in January. Inflationary pressures, monetary policy tightening, rising bond yields, rising crude oil prices are some of the key challenges facing global markets. Apart from global factors, The domestic market will track third quarter (Q3FY22) results, management commentary and the 2022-23 union budget,” said Shrikant Chouhan, head of equity research (retail) at Kotak Securities Ltd.

  3. Expectations that the Federal Reserve will accelerate rate hikes to fight inflation battered global indices. The sell-off also hit bonds, pushing Treasury yields to two-year highs. Higher yields and higher interest rates tend to make risky assets such as emerging market stocks less attractive, leading to outflows from the region.

  4. Domestically, and mid-cap stocks ended lower, with the Nifty Midcap 100 down 2.39% and the Nifty Smallcap 100 down 2.28%.

  5. 14 of the 15 industry indicators compiled by the national stock exchange are settled in red. Nifty PSU Bank and Nifty Consumer Durables Pharma underperformed the index, falling 3.05% and 2.96%, respectively. The nifty FMCG (fast-moving consumer goods) up 0.36%.

  6. In terms of specific stocks, Bajaj Finserv was Nifty’s biggest loser, down 5.09 per cent to Rs 16,379.95. Tech Mahindra, Coal India, Shree Cement and Divi’s Lab also lag behind.

  7. In contrast, Bajaj Auto, Hindustan Unilever, Maruti Suzuki India, HDFC Bank and Hero MotoCorp were among the gainers.

  8. Overall market breadth was weak, with 1,037 shares up, while the BSE lost 2,339 shares.

  9. On the 30-share BSE platform, Bajaj Finserv, TechM, Tata Steel, Bharti Airtel, IndusInd Bank, L&T, Infosys and Bajaj Finance were the biggest losers with their shares down as much as 5.37%.

  10. HUL, Maruti, HDFC Twins (HDFC and HDFC Bank), Nestlé, Kotak Mahindra Bank and TCS were the BSE winners.

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