{"id":20934,"date":"2022-02-03T17:08:01","date_gmt":"2022-02-03T11:38:01","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ld-stocks-55\/"},"modified":"2022-02-03T17:18:39","modified_gmt":"2022-02-03T11:48:39","slug":"biz-ld-stocks-55","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ld-stocks-55\/","title":{"rendered":"Markets snap 3-day rally as profit-booking hammers IT, finance stocks"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2500133447\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Mumbai, Feb 3 (PTI) The Sensex and Nifty buckled under heavy selling pressure on Thursday as investors pocketed gains in IT, finance and bank stocks after three sessions of robust gains.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-601033137\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Nervousness in European markets ahead of central bank meetings coupled with lacklustre macroeconomic data back home also sapped risk appetite, traders said.<\/p>\n<p> The 30-share BSE Sensex plunged 770.31 points or 1.29 per cent to finish at 58,788.02. Similarly, the broader NSE Nifty lost 219.80 points or 1.24 per cent to close at 17,560.20.<\/p>\n<p> HDFC was the top laggard among the Sensex constituents, tumbling 3.23 per cent, followed by Infosys, L&#038;T, Bajaj Finserv, Bajaj Finance, Tech Mahindra and Kotak Bank.<\/p><div class=\"trade-content_5\" id=\"trade-1238997700\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Only five counters closed in the green &#8212; ITC, Maruti, Titan, SBI, and Asian Paints, advancing up to 1.14 per cent.<\/p>\n<p> On the macroeconomic front, India&#8217;s services sector activity moderated further in January as new business rose at a noticeably slower rate amid the escalation of the pandemic, reintroduction of restrictions and inflationary pressures, a monthly survey showed.<\/p>\n<p> The seasonally adjusted India Services Business Activity Index fell to 51.5 in January, from 55.5 in December, pointing to the slowest rate of expansion in the current six-month sequence of growth.<\/p>\n<p> &#8220;The domestic market extended its losses following broad-based selling as global cues turned in favour of bears. All major sectors succumbed to selling while Auto stocks showed some resistance on the back of sequential growth in auto sales numbers during January.<\/p>\n<p> &#8220;US futures were under pressure following weak earnings numbers reported by Meta (Facebook) while European markets fretted about monetary policy tightening ahead of the central bank policy announcement,&#8221; said Vinod Nair, Head of Research at Geojit Financial Services.<\/p>\n<p> Ajit Mishra, VP &#8211; Research, Religare Broking, said, &#8220;Markets have been experiencing volatile swings despite the positive bias and we expect this trend to continue&#8230; (amid) choppy global markets and prevailing earnings season.&#8221;  \t Barring auto and consumer durables, all BSE sectoral indices closed with losses, led by IT, teck, realty, finance, power and energy.<\/p><div class=\"trade-content-10\" id=\"trade-2726604460\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The BSE mid-cap and small-cap gauges shed up to 0.90 per cent.<\/p>\n<p> Global markets slipped ahead of policy meetings of the European Central Bank (ECB) and the Bank of England (BoE) amid fears of rate hikes to control inflation.<\/p>\n<p> In other Asian markets, Tokyo closed in the red, while Seoul was positive.<\/p>\n<p> Several Asian markets, including China and Hong Kong, were shut for the Lunar New Year holidays.<\/p>\n<p> Stock exchanges in Europe were mostly trading in the negative zone in the afternoon session.<\/p>\n<p> International oil benchmark Brent crude slipped 0.65 per cent to USD 88.89 per barrel.<\/p>\n<p> The rupee declined 5 paise to close at 74.88 against the US dollar, weighed by the strength of the American currency overseas.<\/p>\n<p> Foreign institutional investors (FIIs) remained net sellers in the capital market, offloading shares worth Rs 183.60 crore on Wednesday, according to stock exchange data. PTI BAL ABM  ABM ABM<\/p>\n<div class=\"trade-after-content\" id=\"trade-1934501629\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Feb 3 (PTI) The Sensex and Nifty buckled under heavy selling pressure on Thursday as investors pocketed gains in IT, finance and bank stocks after three sessions of robust gains. Nervousness in European markets ahead of central bank meetings coupled with lacklustre macroeconomic data back home also sapped risk appetite, traders said. The 30-share [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-20934","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Markets snap 3-day rally as profit-booking hammers IT, finance stocks - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ld-stocks-55\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Markets snap 3-day rally as profit-booking hammers IT, finance stocks\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Feb 3 (PTI) The Sensex and Nifty buckled under heavy selling pressure on Thursday as investors pocketed gains in IT, finance and bank stocks after three sessions of robust gains. 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Nervousness in European markets ahead of central bank meetings coupled with lacklustre macroeconomic data back home also sapped risk appetite, traders said. 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