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Indices turn negative for 2021 as Sensex tanks 938 pts, Nifty gives up 14k

All that happened in the markets today

Markets | Axis Bank | Hindustan Unilever

SI Reporter  | New Delhi 


Stock market LIVE updates: The Indian closed lower for the fourth consecutive session, with the benchmark indices plunging nearly 2 per cent on Wednesday -- on the back of broad-based selling -- and turning negative for the year 2021.

Meanwhile, volatility remained elevated ahead of the January F&O expiry, on Thursday. India VIX jumped 4.93 per cent to 24.39 level.

Among headline indices, the S&P Sensex fell 938 points, or 1.94 per cent, to 47,410. The index also gave up the 14,000-mark, for the first time since January 4, and ended the session at 13,967.5. dipped 4 per cent and was the top Sensex laggard, followed by Titan, IndusInd Bank, HDFC Bank, Dr Reddy's, HDFC, Asian Paints, and Mahindra & Mahindra (all down 3%).

All the Nifty sectoral indices, except Nifty FMCG index, were painted red, with Nifty Bank index, down 2.93 per cent, being the top loser.

In the broader markets, the S&P MidCap and SmallCap indices fell 1.38 per cent and 0.52 per cent, respectively.

Commenting on Wednesday's session, S Ranganathan, Head of Research at LKP Securities, said " witnessed a 2 per cent cut in Indices today even as the IMF put out an impressive 11.5 per cent growth for India in 2021, the highest for any major economy globally. Autos, Metals and Financials bore the brunt of selling as we saw unwinding ahead of the Union Budget. Absence of FII buying this week too added to the nervousness in Wednesday's afternoon trade".

Global markets

Europe’s share indexes opened lower on Wednesday, while investors focused on the U.S Federal Reserve meeting and U.S. tech giants’ earnings.

MSCI world equity index, which tracks shares in 49 countries, was down 0.1 per cent, having edged down in the last week after it hit a new all-time high on January 21.

In the Asian session on Wednesday, shares were hurt by some profit-taking, as investors grew wary of stretched valuations. European share indexes opened in the red. The STOXX 600 was down around 0.3 per cent on the day. London’s FTSE 100 was down 0.2 per cent while Germany’s DAX was down 0.5 per cent.

(with inputs from Reuters)


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