Dark
Light

Markets slide Bajaj Finance and Reliance bring the downturn.

1 min read
144 views

TLDR: The benchmark equity indices in India fell in early trade due to investor caution ahead of upcoming events such as the interim budget and the US Fed interest rate decision. Bajaj Finance and Reliance Industries were among the major laggards, with Bajaj Finance falling nearly 4% after disappointing December quarter earnings. Other major laggards included Bajaj Finserv, UltraTech Cement, Titan, NTPC, Larsen & Toubro, and Reliance Industries. The Nifty dipped 31.6 points to 21,706, while the Sensex declined 94.08 points to 71,847.49. Meanwhile, in the US, the stock market ended higher on Monday.

Key points:

  • Benchmark equity indices in India fall in early trade due to investor caution.
  • Bajaj Finance and Reliance Industries are among the major laggards.
  • Nifty dips 31.6 points to 21,706, while Sensex declines 94.08 points to 71,847.49.

The benchmark equity indices in India declined in early trade on January 30 as investors preferred to stay on the sidelines ahead of key events due later this week such as the interim budget and the U.S. Fed interest rate decision. The decline in the stocks of Bajaj Finance and Reliance Industries pulled the markets lower. Bajaj Finance fell nearly 4% after its December quarter earnings failed to cheer investors. Other major laggards included Bajaj Finserv, UltraTech Cement, Titan, NTPC, Larsen & Toubro, and Reliance Industries. In Asian markets, Seoul and Tokyo were trading in the positive territory while Shanghai and Hong Kong quoted lower. The U.S. markets ended higher on Monday.

The Nifty dipped 31.6 points to 21,706, while the Sensex declined 94.08 points to 71,847.49. Bajaj Finance’s disappointing earnings report played a significant role in the decline, with the stock falling nearly 4%. Bajaj Finserv, UltraTech Cement, Titan, NTPC, Larsen & Toubro, and Reliance Industries were among the other major laggards. On the other hand, Hindustan Unilever, JSW Steel, Wipro, and Tata Motors were among the gainers.

The upcoming events, such as the FOMC rate decision, the interim budget, and the US jobs report, are causing investor caution and leading to a cautious atmosphere in the market. Global oil benchmark Brent crude climbed 0.22% to $82.58 a barrel. Foreign Institutional Investors (FIIs) bought equities worth ₹110.01 crore on Monday, according to exchange data.

Previous Story

Koho seeks bank license, challenging and disrupting with healthy rivalry.

Next Story

Powerful governance, diverse wisdom, Federal Reserve.

Latest from News