Stock Market Today: Nifty, Sensex Settle At The Lowest Level In Over Seven Months; HCLTech Top Loser
The NSE Nifty Bank also declined to the lowest level in over seven months during the session.
KEY HIGHLIGHTS
US Futures Decline
As of 3: 29 p.m., futures contract of Dow Jones was 0.8% lower, that of S&P 500 fell 2%, and Nasdaq 100 fell 3.5%.
Economic Data Releases And Events For Jan 27
China: Conference Board Leading Index — 7:30 p.m.
Europe: Belgian Business Climate — 7:30 p.m.
US: New Home Sales — 8:30 p.m.
Stock Market Highlights: Investors Lose Rs 2.4 Lakh Crore As Nifty End At Lowest In Seven Months
The NSE Nifty 50 and BSE Sensex settled at the lowest level in over seven months on Monday. The benchmark indices extended losses to a second session. The Nifty 50 ended 263.05 points or 1.14% down at 22,829.15, and the Sensex ended 824.29 points or 1.08% down at 75,366.17. The benchmark indices posted their lowest level since June 5, 2024.
Market-cap of the Nifty 50 companies fell 2.4 lakh crore to Rs 182.07 lakh crore.
In Monday's session, the Nifty 50 declined 1.27% to 22,799.70, and the Sensex fell 1.19% to 75,284.52.
The NSE Nifty Bank also declined to the lowest level in over seven months during the session. The index ended 0.63% down at 48,064.65.
"The markets continued to be under the control of the Bears, with significant losses in the Mid and Smallcap segments, putting pressure on the Index to trade lower. During the day, the Index broke through its key support level of 22,800 but managed to recover slightly, ending the session at 22,829.15 with a loss of 263.05 points. All sectors closed lower, with Media and IT taking the hardest hits. The underperformance of the broader market persisted, as Mid and Smallcaps saw declines of 2.75% and 3.84%, respectively. The Index tested its long-term trendline support at 22,800, and a further breach below this level could push the Index lower, potentially targeting the 22,300-22,500 zone. Conversely, a decisive move above 23,400 is essential to confirm a trend reversal. Immediate resistance and support are now positioned at 23,000 and 22,660, respectively," said Aditya Gaggar, director, Progressive Shares.
Infosys Ltd. HDFC Bank Ltd., Reliance Industries Ltd., Bharti Airtel Ltd., and Tata Consultancy Services Ltd. weighed on the Nifty 50 index.
ICICI Bank Ltd., Mahindra & Mahindra Ltd., Hindustan Unilever Ltd., State Bank of India, and Britannia Industries Ltd. limited losses in the Nifty 50 index.
Sectoral indices ended lower on NSE. The NSE Nifty Media declined the most, and the NSE Nifty Finance declined the least.
Broader indices underperformed. BSE Midcap closed 2.7% down and BSE Smallcap closed 3.5% down.
All 21 sectoral indices on the BSE closed lower. BSE Telecom fell the most.
Market breadth was skewed in the favour of sellers. As many as 3,513 stocks fell, 601 rose, and 120 remained unchanged on the BSE.
Rupee Closes Weaker Against Dollar
Rupee weakened by 13 paise to close at 86.34 against the US dollar. It closed at 86.21 on Friday, according to data Bloomberg.
Market At Close
The NSE Nifty 50 and BSE Sensex extended losses for a second day.
The benchmark indices ended at the lowest level in over seven months.
The NSE Nifty Media was the top loser sector, while the NSE Nifty PSU Bank was the best performing sector.
The NSE Nifty Midcap 150 ended 2.83% down at 19,152.10.
The NSE Smallcap 250 ended 3.66% down at 15,416.30
