Sensex, Nifty Plunge on January 23: FII Selling, Weak Earnings, Adani Woes Drag Market
Business
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News18•23-01-2026, 15:43
Sensex, Nifty Plunge on January 23: FII Selling, Weak Earnings, Adani Woes Drag Market
- •Indian equities saw a significant decline on January 23, with Sensex falling 769.67 points and Nifty dropping 241 points.
- •Key factors contributing to the fall include sustained selling by Foreign Institutional Investors (FIIs), who offloaded shares worth Rs 2,549.80 crore.
- •Disappointing quarterly results from index heavyweights like ICICI Bank and HCL Technologies also dampened market sentiment.
- •Geopolitical uncertainties, despite a temporary easing of US-Europe trade tensions, kept investors cautious.
- •A sharp sell-off in Adani Group stocks, following reports of SEC summons regarding alleged fraud and bribery, further impacted the market.
Why It Matters: Indian markets fell sharply due to FII selling, weak corporate earnings, geopolitical concerns, and Adani Group stock decline.
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