This week, domestic equities faced widespread selling, with the Sensex and Nifty indices dropping by 2%, marking their biggest weekly loss in almost a month. The nifty midcap 100 index also saw a sharp decline, falling nearly 6%, its steepest drop in over two months.

Markets saw their third consecutive loss on Friday, driven by persistent foreign investor selling, though domestic investor buying and a rebound in IT stocks helped limit the losses.

The Nifty 50 closed 86.50 points lower at 23,440, while the Sensex fell 241.30 points to 77,378.91.

Market breadth was negative, with 36 out of 50 Nifty stocks closing in the red, including top losers like Shriram Finance, Trent, and NTPC.

Volatility is expected to continue until the first week of February, when the RBI may cut interest rates.

According to NSE data, domestic investors bought Rs 76.39 million worth of shares, while foreign investors sold Rs 71.70 billion worth.

Adani Wilmar fell 10% after the Adani Group announced plans to sell a 20% stake. Tata Elxsi dropped 6.8% due to disappointing earnings in the December quarter.

The IT sector, led by TCS, showed resilience, with TCS gaining 6% after strong results. Delta Corp surged 6% after the Supreme Court stayed GST show-cause notices worth up to Rs 1.12 lakh crore.

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