<p>Bengaluru: Benchmark indices BSE Sensex and NSE Nifty slumped 1.6% on Monday on the back of an across-the-board selloff, as concerns over third-quarter earnings growth, the new HMPV scare and the continued flight of foreign capital impacted risk appetite of investors.</p>.<p>A depreciating rupee and weak trend in Asian markets further weighed on sentiment.</p>.<p>The 30-share Sensex tanked 1,258.12 points or 1.59 per cent to close at 77,964.99. During the day, it had fallen 1.81per cent. Meanwhile, the 50-share Nifty fell 388.70 points or 1.62 per cent to 23,616.05.</p>.<p>Investors on the BSE lost Rs 10.98 lakh crore on Monday. Last week, on January 1 and 2 - the first two trading sessions of the year - BSE investors had gained Rs 8.5 lakh crore.</p>.India's services sector growth hits 4-month high in Dec on new biz orders, easing price pressures.<p>“The primary catalyst for a sharp sell-off in the domestic market appears to be concerns over the human metapneumovirus (HMPV). Additionally, the initial Q3 consensus earnings estimate suggests a potential gradual recovery in domestic corporate earnings, which could explain the domestic market's underperformance compared to global markets led by premium valuation,"said Vinod Nair, Head of Research, Geojit Financial Services.</p>.<p>Nair added that emerging markets are undergoing consolidation due to uncertainties surrounding new US economic policies, the Federal Reserve's hawkish stance on future rate cuts, and a strong dollar, all of which are negatively impacting market sentiment.</p>.<p>“Indian equities faced intense selling pressure amid concerns regarding the outbreak of HMP virus and sharp fall in banking stocks post lacklustre quarterly updates. There was broad-based sell-off in the market with midcap and smallcap indices falling between 2-3 per cent each and all sectoral indices closing in the red,” said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services.</p>.<p>“We expect markets to remain volatile until concerns relating to the new virus ease out,” Khemka said.</p>.<p>From Sensex, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra and Reliance Industries were among the biggest laggards. Titan and Sun Pharma were the only gainers.</p>.<p>The BSE smallcap and midcap indices fell 3.17 per cent and 2.44 per cent respectively.</p>.<p>In Asian markets, Seoul settled higher while Tokyo, Shanghai and Hong Kong ended lower. European markets were trading on a mixed note. US markets ended in positive territory on Friday. Global oil benchmark Brent crude dipped 0.25 per cent to $76.32 a barrel.</p>
<p>Bengaluru: Benchmark indices BSE Sensex and NSE Nifty slumped 1.6% on Monday on the back of an across-the-board selloff, as concerns over third-quarter earnings growth, the new HMPV scare and the continued flight of foreign capital impacted risk appetite of investors.</p>.<p>A depreciating rupee and weak trend in Asian markets further weighed on sentiment.</p>.<p>The 30-share Sensex tanked 1,258.12 points or 1.59 per cent to close at 77,964.99. During the day, it had fallen 1.81per cent. Meanwhile, the 50-share Nifty fell 388.70 points or 1.62 per cent to 23,616.05.</p>.<p>Investors on the BSE lost Rs 10.98 lakh crore on Monday. Last week, on January 1 and 2 - the first two trading sessions of the year - BSE investors had gained Rs 8.5 lakh crore.</p>.India's services sector growth hits 4-month high in Dec on new biz orders, easing price pressures.<p>“The primary catalyst for a sharp sell-off in the domestic market appears to be concerns over the human metapneumovirus (HMPV). Additionally, the initial Q3 consensus earnings estimate suggests a potential gradual recovery in domestic corporate earnings, which could explain the domestic market's underperformance compared to global markets led by premium valuation,"said Vinod Nair, Head of Research, Geojit Financial Services.</p>.<p>Nair added that emerging markets are undergoing consolidation due to uncertainties surrounding new US economic policies, the Federal Reserve's hawkish stance on future rate cuts, and a strong dollar, all of which are negatively impacting market sentiment.</p>.<p>“Indian equities faced intense selling pressure amid concerns regarding the outbreak of HMP virus and sharp fall in banking stocks post lacklustre quarterly updates. There was broad-based sell-off in the market with midcap and smallcap indices falling between 2-3 per cent each and all sectoral indices closing in the red,” said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services.</p>.<p>“We expect markets to remain volatile until concerns relating to the new virus ease out,” Khemka said.</p>.<p>From Sensex, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra and Reliance Industries were among the biggest laggards. Titan and Sun Pharma were the only gainers.</p>.<p>The BSE smallcap and midcap indices fell 3.17 per cent and 2.44 per cent respectively.</p>.<p>In Asian markets, Seoul settled higher while Tokyo, Shanghai and Hong Kong ended lower. European markets were trading on a mixed note. US markets ended in positive territory on Friday. Global oil benchmark Brent crude dipped 0.25 per cent to $76.32 a barrel.</p>