Mobilenews24x7 Bureau
Mumbai, Jan 24 : The stock market continued to slid for the fifth consecutive session on Monday as the BSE Sensex tumbled 1,545.67 points to settle below 58k at 57,491.51 as selling was seen across the board amid weak global cues. The Nifty of the National Stock Exchange (NSE) too declined 468.05 points at 17,149.10. Heavy selling due to uncertainty around the quantum of a rate hike by the US Fed dragged the market further.
The rising dollar index, soaring oil prices and bond yield along with tensions between Russia and Ukraine too impacted the market. The Sensex opened weak at 59,023.97 and fell by 14 points. During the day, it dropped 2,053 points at 56,984.01 before closing at 57,491.51 from its previous close. It finally settled at 57,491.51, sliding 1,545.67 points from its previous close.
The Sensex registered the day’s high and low at 59,023.97 and 56,984.01 respectively. The Nifty recorded the day’s high and low at 17,599.40 and 16,997.85 respectively. In sectoral indices, realty was a major loser down by 5.94 per cent followed by metal by 5.03 per cent, materials by 4.47 per cent, consumer durable by 4.14 per cent and consumer discretionary goods and services by 3.99 per cent. In scrips, Bajaj Finance slumped by 6.24 per cent to Rs 6,913.15 followed by Tata Steel by 5.91 per cent to Rs 1,100, Wipro by 5.44 per cent to Rs 572.30, Tech Mahindra by 5.35 per cent to Rs 1,508.85 and Titan by 5.05 per cent to Rs 2,401.
The Mid Cap declined by 3.82 per cent and Small Cap by 4.43 per cent. All 30 scrips were in the red. The pan-European Stoxx 600 fell 1.4 per cent by mid-morning while Germany’s DAX and France’s CAC40 also dropped over 1 per cent each. However, Futures linked to the US were trading up to 0.3 per cent higher each. Investors are seen looking to the US Federal Reserve’s monetary policy meeting this week. The Federal Open Market Committee is due to meet on Tuesday and Wednesday to decide the next steps for the US monetary policy.
Japan’s Nikkei 225 closed in green up 0.24 per cent. In South Korea, the Kospi fell 1.5 per cent while Hong Kong’s Hang Seng index was also 1 per cent lower. The Shenzhen component was up 0.3 per cent.
