Taking Stock |Market reels under selling pressure for third consecutive session, Sensex falls below 60k

Stock Market Today:

Unrelenting selling by foreign institutional investors (FIIS) amid growing concerns of a recession impacting the global economy pushed Indian equity benchmarks into the red for the third session in a row on January 6.

At close, the 30-pack BSE Sensex was down 453 points, or 0.75 percent, at 69,900, while the Nifty lost 133 points, or 0.74 percent, to end the day at 17,859.

The benchmark indices ended the first week of 2023 lower. During the week, the Sensex lost 1.5 percent and the Nifty 1.4 percent.

The market tracked negative cues from the US market, which closed a percent down the previous day, and other Asian peers which ended the day on a mixed note.

The rejection of Russia's 36-hour ceasefire offer by Ukraine and concerns expressed by the RBI Governor about the inflation situation in South Asia added to the negative sentiment fuelled by the US Fed’s hawkish stance on rate hikes, which resulted in FII exodus from India.

Barring FMCG, which ended flat, all sectoral indices ended the last day of the first week of 2023 in the red. The Nifty IT was the biggest loser, shedding two percent. Banking and financials were the other contributors to the decline and lost a percent each. Nifty Metal was down just under one percent, while pharma and realty lost 0.8 and 0.7 percent.

Britannia, M&M, Reliance, BPCL and Bajaj Auto were the top Nifty gainers, rallying 0.6 to one percent each. The top losers included IT heavyweight TCS, JSW Steel, IndusInd Bank, Bajaj Finserv and Tech Mahindra, down 2.5 to 3 percent.

On the BSE, too, barring FMCG, all sectoral indices incurred losses. BSE Teck and BSE IT were the top losers, down 1.86 and 1.77 percent.

Index	Prices	Change	Change%
Sensex	84,650.91	-15.37	-0.02%
Nifty 50	25,837.60	-2.05	-0.01%
Nifty Bank	59,291.70	69.35	+0.12%

Nifty 50 25,837.60 -2.05 (-0.01%)

Wed, Dec 10, 2025

• 1D
• 5D
• 1M
• 3M
• 6M
• 1Y
• 2Y

Biggest Gainer	Prices	Change	Change%
Hindalco	817.80	4.90	+0.60%

Biggest Loser	Prices	Change	Change%
Titan Company	3,828.40	-20.60	-0.54%

Best Sector	Prices	Change	Change%
Nifty Energy	34783.90	117.10	+0.34%

Worst Sector	Prices	Change	Change%
Nifty Infra	9430.85	0.00	+0.00%

The BSE metal index was down 1.3 percent, while BSE services, banking and financials each ended one percent down. BSE FMCG managed a marginal gain of 0.03 percent.

Broader indices, too, could not escape the negativity. The BSE midcap index was down 0.72 percent and the BSE smallcap index lost 0.73 percent.

A long build-up could be seen in GNFC, Havells and MRF, while a short build-up was witnessed in LIC Housing Finance, Dabur and TCS.

A volume spike of more than 176 percent was seen in Glenmark Pharmaceuticals, while the volumes in Aurobindo Pharma and Astral jumped over 130 percent each.

Worries about a global economic slowdown and higher interest rates triggered frenzied selling among investors that saw the Sensex end below the psychological level of 60,000. The market is also not comfortable with the current valuations given several headwinds and hence investors resorted to profit-taking in banking, IT and metals stocks.

Technically, on daily and intraday charts the Nifty has formed a lower top formation and is consistently trading below the 50 and 20-day Simple Moving Averages (SMA), which is broadly negative. However, as the market is in oversold territory, there is a strong possibility of a quick pullback rally.

For bulls, 18,000 will be the immediate hurdle and below it, the index can slip to 17,750. Further correction can drag the index to 17,650. If the index moves above 18,000, it can rise to 18,100-18,175.

Bears continue to have the upper hand as the Nifty has been posting red candles for three days. It found support around the previous swing low on the daily timeframe. The momentum indicator RSI (14) is in a bearish crossover, suggesting weak price momentum in the near term.

Going forward, 17,770 is likely to act as support. A decisive fall below the said level may take the index to 17,500. On the higher end, resistance is visible at 18,000, above which a recovery may come.