Stories
Broader Markets Extend Losing Streak to Fourth Week, Underperform Main Indices
- •Both Nifty Midcap 100 and Nifty Smallcap 100 indices declined for the fourth consecutive week, falling 3.5% and 3.3% respectively.
- •The BSE Sensex shed 2.68% and the Nifty 50 fell 3.10% during the week.
- •Nifty Consumer Durables was the biggest sectoral loser, down 6%, followed by Nifty Auto at 5.8%.
- •Foreign institutional investors (FIIs) extended their selling streak to six weeks, offloading equities worth Rs 34,966.07 crore.
- •Market experts suggest a weak short-term texture but note the possibility of a pullback rally from oversold levels.
Key Questions Answered
The broader markets extended their losing streak to the fourth consecutive week, underperforming the main indices. The Nifty Midcap 100 dropped 3.5% and the Nifty Smallcap 100 fell 3.3%. Meanwhile, the BSE Sensex shed 1,986.04 points to close at 71,909.70 and the Nifty 50 declined by 3.10% to finish at 22,421.95.
Almost all major sectoral indices experienced profit-booking and selling pressure. Nifty Consumer Durables emerged as the biggest loser with a 6% decline, followed closely by Nifty Auto, which dropped 5.8%. Additionally, the Nifty Metal, FMCG, and PSU Bank indices each shed more than 4%.
Foreign institutional investors accelerated their selling momentum, extending their selling streak to six consecutive weeks by offloading equities worth Rs 34,966.07 crore. In contrast, domestic institutional investors offered market support by purchasing equities valued at Rs 33,455.30 crore.
