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Sensex and Nifty 50 ends lower, biggest single day fall in a month

Sensex and Nifty 50 ends lower, biggest single-day fall in a month

Sensex and Nifty 50 ends lower, biggest single-day fall in a month
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By Asmita Pant  Jan 25, 2023 4:02:09 PM IST (Published)

The Sensex fell 897.4 points or 1.5 percent to 60,081.4, before ending at 60,205.1. The Nifty50 moved within a range of 17,846.2 - 18,100.6 in intraday trade before ending 1.3 percent lower at 17,891.9. Nifty Bank ended 1,085.8 points or 2.5 percent lower at 41,647.6.

Indian equity benchmarks NSE Nifty 50 and BSE Sensex ended lower on Wednesday extending initial losses, marking the single-biggest day for the market in a month. Finance and oil, gas shares ended lower while FMCG and auto shares ended in the green. Nifty Midcap 100 and Nifty Smallcap 100 ended 1.5 percent and 1.2 percent lower, respectively.

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The Sensex fell 897.4 points or 1.5 percent to 60,081.4, before ending at 60,205.1. The Nifty50 moved within a range of 17,846.2 - 18,100.6 in intraday trade before ending 1.3 percent lower at 17,891.9. Nifty Bank ended 1,085.8 points or 2.5 percent lower at 41,647.6.
A total of 35 stocks in the Nifty50 basket finished in the red, with Adani Ports, SBI, IndusInd Bank, HDFC Bank, and HDFC being the top losers.
Adani Wilmar, Concor, Aurobindo Pharma, Vodafone Idea and Canara Bank led the Nifty Midcap index lower.
On the other hand, Bajaj Auto, Hindustan Unilever, Hindalco, Britannia and Maruti were the top Nifty 50 gainers.
"The Bank Nifty witnessed selling pressure throughout the session. On the daily chart, an upward consolidation was followed by a sharp correction, suggesting a rise in bearish bets in the space. Furthermore, the index has dropped below the 50-day exponential moving average, confirming the downward trend. On the lower end, immediate support is visible at 41500/40800. On the higher end, resistance is visible at 42000," said Kunal Shah, Senior Technical Analyst at LKP Securities.
Overall market breadth favoured the decline at close, as 1,120 stocks rose while 2,396 fell on BSE.
Global markets
European markets traded lower on Wednesday extending the losses from previous session. Stoxx 600 index was last trading 0.6 percent lower at 450.7.
S&P 500 futures were trading 0.8 percent lower, suggesting a negative start on Wall Street. Wall Street ended mixed on Tuesday.
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