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The benchmarks fell more than 2% for the week.
The Nifty began the week on a positive note but experienced significant selling pressure in the second half of the week. As a result, it broke out of the consolidation range that it had been in for the previous month.
During the week, the Nifty fell below its 20-day SMA (Simple Moving Average), breached an important support level of 17,800, and formed a long bearish candle on weekly charts.
- Monday - On January 23, the Nifty traded range-bound. Finally, the Nifty index closed at 18118.55%, a 0.5% increase.
- Tuesday - The Indian equity market ended flat on January 24 after a volatile session, with the Nifty down 0.20 points to close at 18,118.30.
- Wednesday – The Nifty opened on a negative note on January 25 and fell sharply throughout the day.
- Thursday – Indian financial markets were shut on Thursday, January 26 for Republic Day.
- Friday – The Nifty was down 287.70 points at 17,604.30.
- On Monday, India's Vix opened at 13.78, then increased slightly the following day to 14.62 and was quiet flat on Tuesday. It touched a high of 15.42 on Wednesday. It reached a high of 17.32 on Friday.
- The Nifty Metal and Energy shed 6-7 percent, and the Nifty Pharma fell 0.78 percent. However, IT and FMCG indices gained 0.5-2 percent and Nifty Auto gained 3.14 percent over the week.
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