Sensex nosedived more than 1200 points on Jan 06. At 1 pm, the Sensex fell by 829.63 points, or 1.05%, to 78,393.48. The Nifty dropped by 260.30 points, or 1.08%, to 23,744.45. Of the shares, 626 advanced, 2,926 declined, and 91 remained unchanged.
Weak global cues, profit-booking ahead of the monthly F&O expiry, and sectoral pressures from IT and auto stocks negatively impacted sentiment.
One of the major reasons of today’s market fall is the discovery of 2 HMPV cases in India. In a sharp sell-off today, all sectoral indices on the Nifty are trading in the red. Nifty PSU Bank saw the biggest drop, falling by 3.63%.
Other factors include cautious sentiment in most Asian markets due to potential changes under US President-elect Donald Trump. His promise to sharply raise tariffs on imports from China and other countries could hurt growth in a region heavily reliant on trade.
A sharp decline in index heavyweights like Tata Steel, Reliance Industries, HDFC Bank, Kotak Mahindra Bank, ITC, and Tata Motors pulled the markets lower. The benchmark Nifty 50 fell below the 23,800 level.
An index of Asian currencies fell to its lowest level in nearly two decades against the dollar, while equities fluctuated. Gains from a strong chip sector were offset by declines in Japanese stocks.
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