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Indian Markets Slip Amid Global Fears
14 Jan
Summary
- Equity indices Sensex and Nifty declined on Wednesday.
- Weakness seen in IT, consumption, and banking stocks.
- Persistent foreign fund outflows unnerved investors.
Indian equity markets, represented by the Sensex and Nifty, registered a decline on Wednesday, continuing the downward trend from the previous day. This slump was primarily attributed to significant weakness observed in the IT, consumption, and select major banking stocks. The escalating geopolitical tensions across the globe cast a shadow over investor sentiment.
Further compounding market woes were consistent foreign institutional investor outflows, which have been a cause for concern. Alongside this, new uncertainties related to tariffs also played a role in unnerving investors and traders. The 30-share BSE Sensex concluded the trading session lower by 244.98 points, settling at 83,382.71, while the 50-share NSE Nifty saw a dip of 66.70 points, closing at 25,665.60.
Several prominent companies, including Tata Consultancy Services, Asian Paints, Maruti, and ICICI Bank, were among the notable laggards. Conversely, stocks like Tata Steel, NTPC, Axis Bank, and UltraTech Cement managed to post gains. Foreign institutional investors offloaded equities worth ₹1,499.81 crore on Tuesday, though domestic institutional investors provided some support by buying stocks worth ₹1,181.78 crore.
