The Indian benchmark indices were deep in the red as they ended a streak of four-day gains with sharp losses today(6th January 2022). The BSE Sensex was 680 points lower at 59,542, and the NSE Nifty was 17,730, lower by 195 points. The two indices were down over 1 percent each.
In tandem with this, the broader markets were also negative but were seen trimming losses. The BSE MidCap and SmallCap indices were down 0.6 and 0.4 percent, as compared to the 1 percent fall in the benchmarks.
Sectoral rotation in favour of financials, particularly leading banks, is a likely scenario in 2022. There are market signals and macro triggers favouring financials. So, market corrections may be used to buy high-quality financials and large-cap IT, he said.
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