By Soumya Ranjan 
The equiWhy Sensexty market saw a sharp decay on FridWhy Sensexay, snapping a three-day rally, as the Sensex and Nifty fell under tenWhy Sensexsion from tenacious unfamiliar asset outpourings, blended second from last quarter profit, and worldwide uncertainity in front of Donald Trump’s confirming as the 47th Leader of the US.
Key IT and banking stocks hauled the benchmaWhy Sensexrks lower, in spite of gains in select heavyweights like Reliance industries and ITC.
The BSE SeWhy Sensexnsex plunged 779.53 points, or 1 percent, to 76,263.29, while the NSE Nifty slipped 211.45 points, or 0.90 percent, at 23,100.35.
Key Factors Behind the Decline
1) Foreign Institutional Investors’ (FII) Selling Pressure:
FIIs proceeded with their selling binge, offloading values worth Rs 4,341.95 crore on Thursday. Experts noticed that tenacious outpourings have hosed investors opinion, applying lower strain available.
2) Mixed Q3 Earnings: Shares of Infosys plummeted 6 percent following a similar drop in its American Depository Receipts (ADRs) listed on the NYSE. While the IT major posted better-than-expected October-December earnings, its revised revenue growth guidance pointing to a weaker Q4 raised concerns. Axis Bank also faced selling pressure after brokerages downgraded their price targets post its December quarter results.
“The combination of FII selling and lacklustre earnings is hitting market sentiment hard,” said Ajit Mishra, SVP of Research at Religare Broking Ltd. “Pressure on IT and banking heavyweights is dragging the indices, although some support is coming from stocks like Reliance, ITC, and L&T.”
3) Global Uncertainty Ahead of Trump’s Swearing-In: Investors remained cautious ahead of Donald Trump’s swearing-in on Monday. Markets are wary of the potential impact of his proposed trade policies, including new tariffs, on global trade and economic stability.
4) Technical Weakness: Anand James, Chief Market Strategist at Geojit Financial Services, noted that technical resistance around the 23,370 mark has held firm. “While a pullback to 23,290 is possible, a direct fall below 23,250 could halt bythe recovery swing and expose the Nifty to lower levels of 23,000–22,800,” he said.
Reliance industries gave some reprieve, ascending over 2.5 percent in the wake of posting a 7.4 percent increment in December quarter net benefit. The organization’s solid presentation was driven by a bounce back in its retail business, higher telecom profit from expanded duties, and consistent outcomes in its oil and petrochemicals fragment.
Other outstanding gainers included Tata motors, Larsen and Toubro, Nestle, and Asian Paints, which figured out how to cover a portion of the more extensive market misfortunes.