The Sensex and the Nifty ended the week 2% lower in the run-up to Budget 2023 and the US Fed Reserve meeting. The BSE smal, mid and large-cap indices fell 3.5%, 2.6% and 3%, respectively
The Indian equity market plunged 2 percent in the holiday-shortened week as investors turned cautious ahead of the Union Budget 2023-24, which will be presented on February 1, and the US Federal Reserve meeting whose outcome will be shared the same day.
For the week, the BSE Sensex shed 1,290.87 points, or 2.12 percent, to close at 59,330.9 and the Nifty fell 423.3 points, or 2.34 percent, to end at 17,604.35. The fall in small and mid-cap indices, however, was sharper.
Small and mid-caps hammered
During the week, BSE smallcap, midcap and largecap indices fell 3.5 percent, 2.6 percent and 3 percent, respectively.