Indian equity markets faced a sharp decline on January 6, with the Nifty ending below 23,650 and the Sensex losing 1,258.12 points or 1.59% to close at 77,964.99. The Nifty dropped 388.70 points or 1.62% to settle at 23,616.05, marking the second consecutive session of losses.
FII/DII Activity:
- Foreign Institutional Investors (FIIs): Continued to sell, offloading shares worth Rs 2,575.06 crore in the cash segment.
- Domestic Institutional Investors (DIIs): Provided strong support, purchasing shares worth Rs 5,749.65 crore.
- Net inflow: The market saw a positive net inflow of Rs 3,174.59 crore due to DII activity.
Sectoral and Stock Performance:
- Top Nifty Losers: Tata Steel, Trent, Coal India, NTPC, and BPCL.
- Top Nifty Gainers: Apollo Hospitals, Tata Consumer, Titan Company, and HCL Technologies.
- Sectoral Indices: All sectors ended in the red, with the PSU Bank index dropping 4%, and metal, realty, energy, PSU, power, and oil & gas indices declining 3% each.
Broader Market:
- The BSE Midcap Index fell by 2.4%.
- The BSE Smallcap Index dropped by 3%.
Despite the sell-off by FIIs, strong domestic institutional support provided some cushion to the market. The broader sentiment remains cautious amidst global and domestic uncertainties.
