The Gift Nifty, trading at 23,810.50 at 8:09 AM, marked a positive opening with an increase of 69.50 points or 0.29%. The index exhibited a range between 23,758.50 and 23,824.00, indicating a stable start after a volatile session in the Indian equity markets yesterday.
Market Recap: Indian equity markets faced significant losses on January 6:
- The Sensex dropped 1,258.12 points (-1.59%) to close at 77,964.99.
- The Nifty 50 lost 388.70 points (-1.62%), settling at 23,616.05. This marked the second consecutive session of losses, driven by widespread selling across sectors.
Sectoral Performance:
- Top Nifty Losers: Tata Steel, Trent, Coal India, NTPC, and BPCL.
- Top Nifty Gainers: Apollo Hospitals, Tata Consumer, Titan Company, and HCL Technologies.
- Sector-wise, all indices ended in the red. PSU Bank declined 4%, while metal, realty, energy, and oil & gas fell by approximately 3%.
Broader Market Outlook:
- The BSE Midcap Index dropped by 2.4%.
- The BSE Smallcap Index saw a sharper decline of 3%.
FII/DII Activity:
- Foreign Institutional Investors (FIIs): Net sellers at Rs 2,575.06 crore.
- Domestic Institutional Investors (DIIs): Supported the market with net buying of Rs 5,749.65 crore. This resulted in a net inflow of Rs 3,174.59 crore into the markets.
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