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Benchmark indices Sensex and Nifty experienced significant declines on January 6, with the Sensex dropping 1,379.81 points (1.74%) to 77,843.30 and the Nifty falling 428.40 points (1.78%) to 23,576.35. The downturn was driven by weak quarterly updates from key companies, particularly in the PSU and consumer sectors, alongside negative trends in Asian markets. Investor wealth eroded by Rs 9.5 lakh crore, with 3,126 shares declining compared to 485 advancing.
India's stock market faced a significant downturn, with the Sensex plummeting over 1,200 points and the Nifty dropping 1.4%, following the confirmation of two Human Metapneumovirus (HMPV) cases in Karnataka. The sell-off affected various sectors, including PSU banks and real estate, as investors reacted to the ongoing virus outbreak in China. Despite government reassurances about monitoring the situation, fears of further impacts on the economy led to increased volatility, with the India VIX rising by 13%.
The Indian stock market faced a significant downturn on January 6, with both the Sensex and Nifty 50 indices dropping over 1.5% amid fears of a new virus outbreak in China. The Nifty 50 closed at 23,616 points, slipping below the crucial 24,000 level, while the broader market indices, including Nifty Smallcap 100 and Nifty Midcap 100, fell by 3.2% and 2.7%, respectively. Major sectoral indices suffered losses, particularly in PSU Bank, Metal, and Energy sectors, with ITC leading individual stock declines at 8.1%.
Kotak Mahindra Bank FUT, Januar
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