India market witnessed downturn, primarily led by declines in financials, auto, and information technology sectors, as selling pressure intensified near record high levels on Monday.
The NSE Nifty 50 saw a decline of 76.10 points, settling at 21,665.80, while the S&P BSE Sensex retreated by 379.46 points, closing at 71,892.48.
Within the Sensex companies, major laggards included Kotak Mahindra Bank, UltraTech Cement, Mahindra & Mahindra, Larsen & Toubro, ICICI Bank, IndusInd Bank, Wipro, and Hindustan Unilever.
On the winning side, Sun Pharma, Bajaj Finance, Bharti Airtel, Reliance Industries, Bajaj Finserv, and Titan emerged as notable gainers.
The market extended yesterday's last hour's sell-off, taking negative cues from Asian peers due to weak Chinese manufacturing data and mounting tensions in the Red Sea, which has the potential to disrupt global trade and crude supplies," Vinod Nair, Head of Research at Geojit Financial Services said.
Asian, European and US markets were closed on Monday for the New Year.
In 2023, the BSE benchmark jumped 11,399.52 points or 18.73%, and the Nifty climbed 3,626.1 points or 20%.
The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
Read Less
Start a Conversation
Post comment