Markets in a free fall; Sensex tumbles 1,100 pts, Nifty below 17,550; Adani Group stocks drag

27 Jan 2023 , 02:38 PM

Indian markets were in a free fall in the second half of Friday’s trading session due to a broad-based selloff across sectoral indices. Sensex erased 60k-mark and has nosedived by more than 1,100 points. Nifty 50 has also scrapped over 17,550-level and dived by around 360 points. Both benchmarks have been corrected by 2% each.

Investors await major Q3 earnings. Also, this week’s trading session will be influenced by the upcoming Union Budget announcement.

At around 2.00 pm, Sensex was trading at 59,061.84 down by 1143.22 points or 1.90%. The index has touched an intraday low of 59,016.43. 

Nifty 50 traded at 17,531.80 lower by 360.15 points or 2.01%. The index has touched an intraday low of 17,526.05.

Except pharma and auto index, all other sectoral indices were in the red with a downside ranging from 1-6%.

On NSE, the Banking index shed nearly 1,350 points, while the IT and Metal dipped nearly 370 points and 250 points. In percentage terms, the Oil & Gas index took the most beating with a drop of 6% or 500 points.

Top Gainers on Nifty were- Bajaj Auto (+5.5%), Tata Motors (+4.7%), Dr Reddy’s (+2.5%), ITC (+1.6%) and Cipla (0.86%).

Top Losers on Nifty were – Adani Ports, (-15%), Adani Enterprises (-14.6%), SBI (-5.4%), ICICI Bank (-4.3%) and ONGC contracting by 3.6%.

For feedback and suggestions, write to us at [e-mail]