Stocks like India Cement fell more than 5 percent, Bank of Baroda fell more than 9 percent, and HDFC Bank was down by nearly 3 percent were some of the stocks in focus.
Sensex may bottom out soon after falling 2,900 points in 5 days, say analysts
Sensex fell over 500 points today
(Bloomberg)
Share Via
Read Full Story
Indian shares extended losses to the fifth day as investors continued to book profits ahead of the upcoming February 1 Union Budget. The blue-chip NSE Nifty 50 index fell 1% to 13,817.55 while BSE Sensex closed 535 points lower at 46,874. In five session, Sensex has lost about 2900 points.
Analysts are however hopeful that the selling pressure could ebb going forward. Markets may see a breather on Friday after the recent slide but volatility would remain high. Nifty respected the support zone at 13,700 but sustainability above the same is critical for a decisive rebound. Considering the prevailing scenario and upcoming event i.e. Union Budget, we suggest continuing with hedged positions and preferring index majors over others, said Ajit Mishra, VP - Research, Religare Broking Ltd.
Rupee Vs Dollar: Rupee settled at 72.92 amid weaker domestic equities
Rupee Vs Dollar Today: The rupee settled marginally higher by two paise against the US dollar on Wednesday, January 27, at 72.92 (provisional) amid weaker domestic equities and ahead of the US central bank s - Federal Reserve meeting. At the interbank foreign exchange market, the domestic unit opened at 72.91 against the dollar and registered an intra-day high of 72.78. It witnessed a low of 72.94 in day trade. In an early trade session, the local unit gained eight paise to 72.86 against the greenback. The rupee finally finished at 72.92, higher by two paise over its last close. The forex and equity markets were closed on Tuesday, January 26, on account of Republic Day. On Monday, January 25, the rupee had settled at 72.94 against the American currency.
Story
Rs 9 lakh crore investor wealth wiped out from record high: Here s what to expect after massive market correction
In four sessions, Sensex has tumbled 2,915 points to 47,269 (intra day low) from record high of 50,184. Similarly, Nifty crashed 824 points from its all-time high of 14,753 hit on January 21
Aseem Thapliyal | January 27, 2021 | Updated 19:15 IST
Profit booking, mixed global markets and pre-budget nervousness among traders and investors contributed to the decline of benchmark indices from record highs.
Investors have lost a massive Rs 9.39 lakh crore from record highs in four sessions. Market wealth, which rose to Rs 199.02 lakh crore on January 21 declined to Rs 189.63 lakh crore on BSE today. In four sessions, Sensex has tumbled 2,915 points to 47,269 (intra day low) from record high of 50,184. Similarly, Nifty crashed 824 points against its all-time high of 14,753 hit on January 21.
Small & Midcaps Underperform: 21 Stocks In BSE500 Buck The Trend, Up 10-50% moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.