Smallcap index sheds more than 13% in January

Indices decline over 1% on weak global cues, uncertainty surrounding US trade policy

- ENS ECONOMIC BUREAU @ New Delhi

The equity market began the crucial budget week with significant declines and heightened volatility. The benchmark indices, BSE Sensex and NSE Nifty, dropped over 1% each, while broader indices plunged as much as 4%, raising widespread concerns among investors.

At close, the Sensex was down 824.29 points or 1.08% at 75,366.17, and the Nifty fell 263.05 points or 1.14% to settle at 22,829.15. The NIFTY Midcap 100 index fell 2.75% and the smallcap index cracked nearly 4%.

Owing to Monday's fall, investors lost nearly ₹10 lakh crore in a single session as the overall market capitalization (m-cap) of BSE listed firms came down to ₹411 lakh crore from ₹421 lakh crore in the previous session.

The volatility index, INDIA VIX, rose by 8.28% settling at 18.13, signaling increased market volatility.