Benchmark domestic stocks plunge 1.50% amid profit booking; Sensex slumps 746 points & Nifty ends below 14,400

Benchmark domestic stocks on Friday, January 22 2021, plunged one and half per cent amid profit booking in the equity markets worldwide. The BSE Sensex closed below 49,000 mark and the NSE Nifty settled below 14,400 level. The fall was led by the banking and metal stocks.

The BSE Sensex fell 746.22 points, or 1.50 per cent, to close down at 48,878.54. The NSE Nifty 50 also fell 218.45 points, or 1.50 per cent, end at 14,371.90. Likewise, Nifty Bank declined 1,019.65 points, or 3.17 per cent, to settle at 31,167.25.

The broader market at BSE also fell but outperformed the Sensex. The BSE Mid-Cap index ended 1.19 per cent down and the BSE Small-Cap index slipped 1.04 per cent.

Sellers outnumbered the buyers. On the BSE, 979 shares rose, while 2,005 shares fell and 133 shares remain unchanged. On the Nifty 50 index, 8 shares advanced, while 41 shares declined and 1 remained unchanged. The top five gainers on Nifty 50 were, Bajaj Auto (up 11.23 per cent), Hero MotoCorp, (up 3.99 per cent), Eicher Motors (up 1.78 per cent), Hindustan Unilever (up 1.45 per cent) and UltraTech Cement (up 0.67 per cent). The top five losers in Nifty were Axis Bank (down 4.48 per cent), Asian Paint (down 4.25 per cent), JSW Steel (down 3.97 per cent), ICICI Bank (down 3.75 per cent) and Hindalco (down 3.74 per cent).

COVID-19 update

Total COVID-19 confirmed cases worldwide stood at 9,74,95,558 with 20,89,460 deaths. India reported 1,88,688 active cases of COVID-19 infection and 1,53,032 deaths, while 1,02,83,708 patients have been discharged.

Talks between Centre and Farm Unions

11th round of talks between Centre and Farmer Unions is underway in New Delhi. In the earlier 10th round of talks between the Union Government and 41 farmers' Unions, the government has proposed to the farmer Unions that the implementation of farm laws should be kept on hold for a period of one to one and half years.

Agriculture Minister Narendra Singh Tomar had said that representatives of farmers Union' and the government can discuss all the issues related to the farmers' agitation so that an appropriate solution can be found. However, after the Samyukta Kisan Morcha meeting held yesterday, farmers Unions' had said that farmers are stick to their demands and no proposal of the government will be considered until they abolish the farms laws.

Earlier, The Agriculture Minister reiterated that the farm laws are going to bring about revolutionary change in the life of farmers and in the agriculture sector.