The Indian stock market experienced continued losses in the shortened week ending January 25. Factors contributing to the downturn included mixed corporate earnings, potential delays in the US Fed rate cut, heightened tensions in the Middle East, and persistent selling by Foreign Institutional Investors (FIIs).
In the sectoral breakdown, the Nifty Media index witnessed a 10 percent decline, the Nifty Realty index dropped by 4.5 percent, the Nifty Bank index fell by 2.6 percent, and the Nifty PSU Bank index was down by 2 percent. Conversely, the Nifty Pharma index showed a gain of 1.7 percent.
For the week, the BSE Sensex recorded a 1 percent decline, losing 722.98 points to close at 70,700.67, while the Nifty50 ended at 21,352.6, dropping by 1 percent or 219.2 points. The BSE Small-cap index saw a 0.5 percent decrease, with notable losers such as Karnataka Bank, Zee Media Corporation, Tanla Platforms, Bliss GVS Pharma, MPS, MSTC, Angel One, Restaurant Brands Asia, Cyient, and others.
In the BSE Mid-cap Index, a 1.6 percent decline was observed, driven by losses in Zee Entertainment Enterprises, Oberoi Realty, Indraprastha Gas, IDFC First Bank, Balkrishna Industries, and Hindustan Petroleum Corporation.
The BSE Large-cap Index also continued its decline with a 0.9 percent fall. Major losers included Axis Bank, Mankind Pharma, Asian Paints, Adani Energy Solutions, Havells India, Interglobe Aviation, and FSN E-Commerce Ventures (Nykaa). Meanwhile, gainers included Bajaj Auto, The Tata Power Company, Zydus Lifesciences, Indus Towers, Cipla, and Dr Reddy’s Laboratories.
In terms of market value, HDFC Bank, Axis Bank, Tata Consultancy Services, and Asian Paints experienced the most significant losses, while Bharti Airtel, Sun Pharmaceutical Industries, and Infosys added the most to their market cap.
Foreign Institutional Investors (FIIs) were net sellers during the week, offloading equities worth Rs 12,194.38 crore. In contrast, Domestic Institutional Investors (DIIs) provided support by purchasing equities worth Rs 9,701.96 crore. For the month of January, FIIs sold equities worth Rs 35,778.08 crore, while DIIs bought equities worth Rs 19,976.66 crore.
The Indian rupee ended the week slightly lower against the US dollar, shedding 5 paise to close at 83.11 compared to the previous week’s closing of 83.06 on January 19.
