What is the story about?
Indian equities extended their sell-off for the fifth straight day on Friday, January 9, losing another ₹6 lakh crore worth of investor wealth in the sell-off.
This has turned out to be the worst week that the index has seen since September this year. Nearly 35 constituents on the Nifty 50 have ended the week with losses that range from 1% to as high as 10% for stocks like Trent.
The sell-off this week has taken the Nifty 50 index to its lowest level in the last two months. This week's sell-off has wiped out ₹15 lakh crore in the overall market capitalisation of BSE-listed companies.
Losses have been led by heavyweights like HDFC Bank, which has seen its worst weekly fall since January 2024, and lost over ₹1 lakh crore in market capitalisation this week.
Broader markets have not been too far behind in the Sell-off. The Nifty Midcap index is down 3% this week with more than 80 stocks delivering negative returns among its 100 constituents. This is also the worst week for the Midcap index in the last three months.
The Nifty Smallcap index has declined by a similar quantum, down 3% for the week, and over 80 constituents delivering negative returns for the week.
All sectoral indices have reported losses for the week, led by the Nifty Energy index, which declined 5%. This has turned out to be the worst week for the index since February last year, when it had declined 7% for the week that ended on February 14.
Among other indices, the Nifty Metal, Nifty Realty and the Nifty Auto index have declined between 2% to 3% this week. For the Nifty Metal and Nifty Realty, all index constituents but one reported losses for the week, while for the Nifty Auto, Eicher Motors and Bajaj Auto outperformed, while the other stocks fell between 0.4% to 5.5% for the week.
The next week is when the action begins with regards to quarterly results. TCS and HCLTech report results on Monday, while Reliance Industries, the index heavyweight, reports results on Friday.
This has turned out to be the worst week that the index has seen since September this year. Nearly 35 constituents on the Nifty 50 have ended the week with losses that range from 1% to as high as 10% for stocks like Trent.
The sell-off this week has taken the Nifty 50 index to its lowest level in the last two months. This week's sell-off has wiped out ₹15 lakh crore in the overall market capitalisation of BSE-listed companies.
Losses have been led by heavyweights like HDFC Bank, which has seen its worst weekly fall since January 2024, and lost over ₹1 lakh crore in market capitalisation this week.
Broader markets have not been too far behind in the Sell-off. The Nifty Midcap index is down 3% this week with more than 80 stocks delivering negative returns among its 100 constituents. This is also the worst week for the Midcap index in the last three months.
The Nifty Smallcap index has declined by a similar quantum, down 3% for the week, and over 80 constituents delivering negative returns for the week.
All sectoral indices have reported losses for the week, led by the Nifty Energy index, which declined 5%. This has turned out to be the worst week for the index since February last year, when it had declined 7% for the week that ended on February 14.
Among other indices, the Nifty Metal, Nifty Realty and the Nifty Auto index have declined between 2% to 3% this week. For the Nifty Metal and Nifty Realty, all index constituents but one reported losses for the week, while for the Nifty Auto, Eicher Motors and Bajaj Auto outperformed, while the other stocks fell between 0.4% to 5.5% for the week.
The next week is when the action begins with regards to quarterly results. TCS and HCLTech report results on Monday, while Reliance Industries, the index heavyweight, reports results on Friday.
