Twin fears of rising Covid instances and Fed price hikes rippled via the indices appearing like a Christmas get together pooper for traders. Sensex misplaced almost 1,000 factors taking cumulative losses within the final 4 days to 1,961 factors.
In the meantime, the market capitalisation of all listed corporations on the BSE declined by Rs 14.86 lakh crore to Rs 272.53 lakh crore within the final 4 days. Sensex ended 981 factors decrease at 59,845.29, whereas Nifty50 ended at 17,806.80 on Friday.
Within the Sensex pack at the moment, Tata Metal, Tata Motors, SBI and Bajaj Finserv had been the highest losers, falling 3-5%. Wipro, IndusInd Financial institution, Reliance, L&T, ITC, Tech Mahindra and Maruti additionally closed decrease. However, solely Titan closed with positive factors.
Sectorally, Nifty PSU Financial institution fell over 6%, Nifty Media declined 5%, Nifty Steel 4.47%. Whereas, realty and oil & fuel additionally dropped over 3%. Within the broader market, Nifty Midcap50 fell 3.35% and Smallcap50 declined 4.66%.
Earlier in Asian markets, Japan’s Nikkei 225 fell 1.03%, South Korea’s Kospi plunged 1.83% and China’s Shanghai Composite declined 0.28%.
The rupee ended marginally decrease towards the greenback on Friday. The rupee dipped to 82.85 per greenback from 82.76 within the earlier session. The Brent crude February futures surged 2.78% to $83.25 per barrel.
The market breadth was skewed in favour of bears. About 3,113 shares declined, 474 gained and 68 remained unchanged.
Mr Rupak De of LKP Securities mentioned the sentiment has turned extraordinarily bearish. An extra decline is predicted from right here with a possible near-term breach of 17,550. Resistance on the upper finish is seen at 18,000-18,100.
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