Markets halt three-day winning streak; Sensex tanks over 770 pts, Nifty below 17,600

3 Feb 2022 , 03:51 PM

Equity benchmark indices snapped a three-day winning run amid selling pressure in information technology and financial stocks.

The BSE Sensex tanked 700 points or 1.29 per cent to close at 58,788, while the broader Nifty plunged 220 points or 1.24 per cent to settle at 17,560. In the broader market, Nifty small-cap and midcap too declined up to 1 per cent.

Barring auto and consumer durables, all sectors ended in the red with IT, Realty, Financial Services and Power declining the most. Bank Nifty closed 0.81% lower, holding just above the 39,000 mark.

HDFC was the top Nifty laggard as the stock cracked 3.50 per cent, ONGC, SBI Life, Grasim Industries and Infosys were also among the laggards. Hero MotorCorp, Bajaj Auto, Maruti Suzuki India, Divi’s Lab, Maruti Suzuki India and ITC were among the gainers on the NSE index.

Shares of Titan closed higher after its recorded revenue growth of 36% in the October-December quarter of FY2021-22. Total income in the quarter stood at Rs 10,094 crore while net profit stood at Rs 1,012 crore.