STOCK MARKET BSE NSE

Nifty, Sensex shed more than 3.5% amid weak global cues

Continued FII selling and patchy corporate earnings along with surging Covid cases globally were key factors driving the domestic market.

Published: 22nd January 2022 08:04 AM  |   Last Updated: 22nd January 2022 08:04 AM   |  A+A-

Nifty, Sensex, BSE, NSE

Image used for representational purpose only. (Photo | PTI)

Express News Service

NEW DELHI: A streak of bad news continues to play spoilsports for equity markets in India as the benchmark indices – Nifty and Sensex – continued their downward trend ending the week 3.6% below their Monday opening.

The Sensex on Friday shed another 427 points, or 0.72%, to close just above 59,000 level. Nifty ended the day with a loss of 140 points (-0.8%) at 17,617 levels. “Weak global sentiments wreaked havoc in the volatile domestic market this week. Rate hike worries amid rising inflation, elevated bond yields, ongoing geopolitical tension and surge in oil prices weighed on sentiments,” says Vinod Nair, Head of Research at Geojit Financial Services. 

ALSO READ | Sensex declines by over 200 points in opening trade amid weak global trends

Continued FII selling and patchy corporate earnings along with surging Covid cases globally were key factors driving the domestic market.“Nifty has corrected almost 750 points from its recent peak... Globally induced volatility, mixed set of results and heavy FII selling have added pressure in the market,” says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp