Indian market lost more than 1 percent in the week ended January 6 (first week of 2023). After a strong beginning for the year 2023 with gains in the first 2 sessions, the market came under pressure in the next 3 sessions as investors start profit booking ahead of Q3 earnings next week and indication of further rate hikes by Federal Reserve going ahead.

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Indian market lost more than 1 percent in the week ended January 6 (first week of 2023). After a rallying in the first 2 sessions of the new year, the market came under pressure in the last 3 sessions as investors start profit booking ahead of Q3 earnings next week and indication of further rate hikes by Federal Reserve going ahead.

For the week, BSE Sensex lost 940.37 points or 1.54 percent to close at 59,900.37 and Nifty50 fell 245.85 points or 1.35 percent to close at 17,859.45 levels.

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For the week, BSE Sensex lost 940.37 points or 1.54 percent to settle at 59,900.37 and Nifty50 fell 245.85 points or 1.35 percent to close at 17,859.45 levels.

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The BSE Large-cap Index shed 1.3 percent dragged by Bajaj Finance, Adani Wilmar, Bajaj Finserv, Zomato, Info Edge India, Avenue Supermarts and JSW Steel. However, Havells India, HDFC Life Insurance Company, Godrej Consumer Products, ICICI Prudential Life Insurance Company, Indian Oil Corporation and Bharat Petroleum Corporation, were among the gainers.

BSE Mid-cap Index shed 0.58 percent dragged by Cholamandalam Investment, Shriram Finance, TVS Motor Company, Adani Power, Kansai Nerolac Paints, Honeywell Automation, AU Small Finance Bank, Bayer CropScience and CRISIL. However, Power Finance Corporation, Max Financial Services, Rajesh Exports, IDBI Bank, Hindustan Petroleum Corporation, REC, Bank Of India, ABB India and MRF added 5-11 percent.

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BSE Mid-cap Index lost 0.58 percent dragged by Cholamandalam Investment, Shriram Finance, TVS Motor Company, Adani Power, Kansai Nerolac Paints, Honeywell Automation, AU Small Finance Bank, Bayer CropScience and CRISIL. However, Power Finance Corporation, Max Financial Services, Rajesh Exports, IDBI Bank, Hindustan Petroleum Corporation, REC, Bank Of India, ABB India and MRF gained 5-11 percent.

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The BSE Small-cap index fell 0.5 percent. Vijaya Diagnostic Centre, Lemon Tree Hotels, Indiabulls Housing Finance, Rushil Decor, GRM Overseas, Prataap Snacks, Morepen Laboratories, Dynemic Products, ADF Foods Industries and JMC Projects (India) lost 8-10 percent. On the other hand, BF Investment, Reliance Communications, TD Power Systems, Sigachi Industries, Indo Amines, TVS Srichakra, Aptech and Nelcast added 15-28 percent.

Among BSE Sensex, Bajaj Finance lost the most in terms of marketcap followed by Infosys, Bajaj Finserv and HDFC Bank. On the other hand, ITC, Hindustan Unilever and Tata Steel gained most of their marketcap. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

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Among Sensex stocks, Bajaj Finance lost the most in terms of marketcap followed by Infosys, Bajaj Finserv and HDFC Bank. On the other hand, ITC, Hindustan Unilever and Tata Steel were top gainers. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

Among sectors, Nifty Information Technology and Media indices declined 2.3 percent each. Nifty Bank index lost nearly 2 percent and Realty index fell 1.4 percent.

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Among sectoral indices on the NSE, Nifty IT and Media declined 2.3 percent each. Nifty Bank index lost nearly 2 percent and Nifty Realty index fell 1.4 percent.

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Foreign institutional investors (FIIs) remained sellers throughout the first week of 2023 as they sold equities worth Rs 7,813.44 crore, while domestic institutional investors (DIIs) bought equities worth of Rs 2,756.58 crore.

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Indian rupee ended flat at 82.72 per dollar on January 6 against its December 30 closing of 82.73.

Market lost over 1% in the first week of 2023; IT, media stocks worst hit

Indian rupee ended flat at 82.72 per dollar on January 6 against its December 30 closing of 82.73.