Equities fall further, Sensex down over 400 pts on Thursday

New Delhi, Jan 20 (IANS) The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on National Stock Exchange extended their losses on Thursday from the previous session due to renewed fund outflow by FPIs and in line with bearish trend in the US market — which is considered the global benchmark.

At 10.30 a.m., Sensex traded at 59,664 points, down 0.7 per cent from the previous close of 60,098 points. It opened at 60,045 points.

Nifty traded at 17,828 points, down 0.6 per cent from the previous close of 17,938 points. It opened at 17,921 points.

HDFC, Infosys, Bajaj Auto, Reliance Industries, and Bajaj Finserv were some of the top losers, NSE data showed.

Top gainers during the early trade were Power Grid Corporation, Coal India, Tata Consumer, Hero Motocorp and Brittania.

“Meanwhile investors may stick to the safety of high quality large-caps in performing sectors like IT, financials and construction. Many low-grade small-caps driven by speculation are heading for disaster,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“Investors have to be cautious since rising global inflation and the expected monetary tightening will be major headwinds for markets at least in the first half of 2022. The situation might change in the second half if supply disruptions ease and inflation comes down.”

–IANS

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