The equity market continued witnessing selling pressure as investors remained cautious ahead of the Union Budget, to be presented on February 1.
The need to push reform to boost growth as highlighted in the Economic Survey failed to lift markets, and Nifty50 closed below its crucial support of 12,000 on January 31, for the first time since January 6.
Sensex, Nifty & Nifty Bank post 1st monthly loss since August 2019. Market breadth favours declines; advance-decline ratio at 1:2. The Nifty fell 1.6 percent in January 2020.
The BSE Sensex dropped 190 points to 40,723 while the Nifty50 closed 73 points lower at 11,962.