Market Wrap, January 9: Likely absence of fireworks in Q3 earnings keeps bulls at bay; SENSEX, NIFTY50 fall 0.7%

Further, sustained foreign fund outflows have stifled stock market rally.

At close, the S&P BSE SENSEX stood at 77,620.21, down 528.28 points, or 0.68%, while the broader NIFTY50 index of the NSE ended at 23,526.50, down 162.45 points, or 0.69%.

Out of 50 components in the NIFTY50 index, 16 advanced, and 34 declined, while one stock remained unchanged.

The top five losers on the index were Bajaj Auto, Nestle India, HUL, M&M, and Britannia Industries.

The top five losers were ONGC, Shriram Finance, BPCL, Coal India, and Tata Steel.

As regards SENSEX, HDFC Bank, L&T, TCS, and RIL were the major contributors to the index's fall.

On the other hand, Nestle India (up nearly 2%) was the biggest gainer.

Buzzing Stocks

According to reports, refrigerant gas prices could go up by 200% after IGas USA, a leading American manufacturer of refrigerant gases, said that the supply of R32 and R125 has been impacted.

The R32 and R125 refrigerants are used in air conditioning and low-temperature refrigeration systems.

At close, SRF shares ended at ₹2,664.35 apiece on the NSE, up 13.33%, while those of Navin Fluorine ended at ₹3,822.55, up 9.43%.

Sector Watch

Barring FMCG, all other sectoral indices ended in the red.

The BSE Fast Moving Consumer Goods index settled at 20,943.47, up 152.24 points, or 0.73%.

Broader Market

The BSE MidCap index ended at 45,203.34, down 440.32 points, or 0.96%, while the BSE SmallCap index ended at 54,021, down 640.63 points, or 1.17%.

Market Statistics

Out of 4,067 stocks traded on the BSE, 2,750 declined, and 1,211 advanced, while 106 stocks remained unchanged.

As many as 131 stocks hit their 52-week highs on the BSE while 123 stocks touched their 52-week lows.

Further, nine stocks hit their upper circuits while two stocks hit their lower circuits.