As the trading week comes to a close, Indian stock markets extended their losing streak for the eighth consecutive session. The BSE Sensex declined by 199.76 points or 0.26%, settling at 75,939.21, while the NSE Nifty 50 slipped 127.20 points or 0.55% to close at 22,904.20. The Nifty Bank also ended lower at 48,831.60, down 1.07%.
“The risk-averse sentiment continues to rule investors’ minds as corporate earnings are significantly lower than the market expectations during the start of the year, especially for mid- and small caps. Muted earnings trend, INR depreciation along with external factors like tariffs are expected to keep the sentiments weak in the near term, which could further push FIIs outflows. Volatility is expected to stay elevated until there is clarity on tariffs and a recovery in corporate earnings,” said Vinod Nair, Head of Research, Geojit Financial Services.
Top gainers and losers
Heavy selling was seen in several blue-chip stocks. Among the biggest losers on the Nifty were Bharat Electronics, Shriram Finance, Adani Enterprises, Sun Pharma, Adani Ports.
Despite the widespread decline, a few stocks managed to stay in the green. The top gainers included Nestle India, TCS, Tata Consumer, ICICI Bank, Hindustan Unilever.
Mid and smallcap stocks take a hit
The broader market saw heavy selling, with the Nifty Midcap index losing over 2% and the Smallcap index tumbling more than 3%.
“The Nifty-50 Index and Sensex each lost around 3% each in the past week as markets resumed the risk-off sentiment. While the mid-cap index lost around 8.5% and small-cap index lost around 10.5% in the past week. Broader markets witnessed deeper cuts, with midcaps and small-caps sharply underperforming largecaps. Markets continue to focus on the downside risks, emanating from (1) tariffs imposed by the US on India, (2) uncertain domestic growth and (3) tepid management commentary from the Q3FY25 earnings season,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
FPI were net sellers in the past five days, while DIIs were net buyers in the same period. On the economy front, (1) the RBI cut interest rates by 25 bps, (2) January CPI inflation softened to 4.3% (December: 5.2%) and (3) IIP growth in December moderated to 3.2% (November: 5.2%)” he added.
All sectors in the red
Market-wide weakness dragged down all sectoral indices, with steep losses seen in media, metal, oil & gas, pharma, PSU banks, realty, consumer durables, and energy stocks. Most sectors recorded declines between 1% and 3%, mirroring the negative sentiment across the market.
Gold rate today
As of today, the one gram gold price stands at Rs 8,716 for 24-carat gold and Rs 7,990 for 22-carat gold.
The 22 kt gold rate today for 10 grams has touched Rs 79,900, while the 24 carat gold price climbed Rs 110 to Rs 87,160. Meanwhile, the 18 carat gold rate also increased, with 10 grams now costing Rs 65,380, marking a jump of Rs 90