Sensex falls 671 pts on broad-based selloff; Nifty near 21,500

Ira Singh
Khabar Khabaron Ki,08 Jan’24

The domestic equity market indices ended lower in Monday’s trade amid broad-based selloff. Further, investors eyed the US inflation data and also preferred to stay on the sidelines ahead of the earnings season which kickstarts on Thursday. FMCG, PSU bank indices were the top losers, down over 1% each.At close, the Sensex was down 670.93 points or 0.93 percent at 71,355.22, and the Nifty was down 197.80 points or 0.91 percent at 21,513. About 1733 shares advanced, 1723 shares declined, and 75 shares unchanged.

Stocks and Sectors
Adani Ports, HCL Technologies, ONGC, Hero MotoCorp and NTPC were among the top gainers on the Nifty, while losers included UPL, SBI, SBI Life Insurance, Divis Labs and Britannia Industries.Among sectors, FMCG, Bank, Pharma, and Metal down 1 percent each.BSE Midcap index shed 0.8 percent and smallcap index down 0.3 percent.

On 08 Jan’24,the Indian rupee appreciated 1 paise to close at 83.14 against the US dollar on Monday, as the downward movement in crude oil prices in international markets supported the local unit.However,a strong American currency overseas and negative domestic equities dented overall sentiment, forex dealers said.

Experts Take:
Market experts have recommended six stocks to buy for Monday- Lt, Zydus Wellness, ICICI Lombard, Sonocoms, Poonawalla Fincorp, and Motherson Sumi Wiring.