
Stock recommendations for 20 January from MarketSmith India
Subscribe to enjoy similar stories. Stock market recap: The Indian stock market witnessed an across-segment selloff on Monday, 19 January, on profit booking amid weak global cues. Benchmarks, the Sensex and the Nifty 50 fell almost half a per cent each, with heavyweights, including Reliance Industries Ltd, ICICI Bank, and HDFC Bank, among the top drags after their Q3 results.
The Sensex dropped 324 points, or 0.39%, to end at 83,246.18, while the Nifty 50 closed at 25,585.50, losing 109 points, or 0.42%. The BSE Midcap index fell 0.43%, while the Smallcap index suffered a loss of 1.28%. Investors lost ₹2 trillion in a day as the overall market capitalization of BSE-listed firms dropped to slightly over ₹466 trillion from nearly ₹468 trillion in the previous session.
Indian equities closed on a subdued note on 19 January, with benchmarks ending lower amid broad-based selling pressure. Nifty 50 declined 0.42% to settle at 25,585.50, after oscillating in a narrow intraday range, while Sensex also mirrored the weak sentiment. Market breadth was decisively negative, underscoring the risk-off tone, as declines outpaced advances by a wide margin with 872 stocks advancing against 2,316 declines, and 106 stocks ending unchanged across the NSE.
On the sectoral front, defensives offered limited support, with FMCG emerging as the lone outperformer, rising 0.67%, aided by selective buying in heavyweight names. Nifty Auto managed marginal gains. On the other hand, IT, Oil and Gas, Media, Realty, and Consumer Durables saw notable selling, reflecting concerns around global growth cues and valuation sensitivity.
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