Markets Slip for Third Straight Day as Sensex Loses 200 Points

Equity markets witnessed another day of significant losses as both Sensex and Nifty slipped half a percent on Wednesday, 22 January.

The 30-share BSE index lost 208.43 points to close at 41,115.38, while the broader 50-share NSE Nifty finished at 12,106.90, down 62.95 points.

Among sectors, Nifty FMCG and Nifty IT finished in the green but metal, bank and NBFC stocks copped heavt losses.

ONGC was the top loser in the Sensex pack, tumbling 5.13 per cent, followed by NTPC, Maruti, Kotak Bank, HDFC, Asian Paints, ICICI Bank and Axis Bank.

On the other hand, Nestle India, TCS, Infosys, HCL Tech, SBI and Bharti Airtel ended with gains of up to 1.86 per cent.

According to experts, major stocks are in the process of correcting to their support levels ahead of the Union Budget.

Further, global agencies slashing India's growth outlook and a tepid start to the earnings season are also weighing on domestic investor sentiment, they added.

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