Sensex Today: The key benchmark indices started the week on a shaky note, with investors adopting a cautious approach ahead of the key inflation numbers in India and US. Back home, the S&P BSE Sensex slipped to a low of 60,245 on the back of selling pressure in select financial shares, while IT witnessed profit-taking. The BSE benchmark, however, recouped some of the losses and eventually settled 251 points lower at 60,432.
The NSE Nifty 50 hit a low of 17,720, before settling with a loss of 86 points at 17,771.
The broader markets ended with deeper cuts. The BSE Midcap and Smallcap indices were down over a per cent each. The overall breadth too was fairly negative, with nearly two declining stocks for every advancing share on the BSE.
India’s forex reserves falls
India’s foreign exchange reserves saw a drop after nearly three weeks, falling $1.5 billion to $575.27 billion in the week ended February 3.
The fall was the result of the decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, the Reserve Bank of India’s weekly statistical supplement said on February 10.
The FCA fell $1.32 billion to $507.69 billion for the week ending February 3. Gold reserves were down $246 million to $43.78 billion.
FPIs’ exodus continues; take out Rs 9,600 cr from equities in Feb
“I expect this flow (outflow) trend to continue until there is more clarity on the Adani issue, markets stabilize further and FPIs see more concrete signs of recovery in the Indian economy,” Himanshu Srivastava, Associate Director – Manager Research, Morningstar India, said.
Global Cues
Globally, the US equity futures were subdued this morning as Dow Jones Futures, NASDAQ Futures, and the S&P 500 Futures dropped up to 0.6 per cent.
Asia-Pacific markets, too, fell in tandem as investors eye macro economic data releases this week. Key indices like Nikkei 225, Kospi, Kosdaq, and the S&P 200 indices declined up to 0.6 per cent.
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