Stock market midday report: Sensex down 739 points, Nifty around 17,290

In the afternoon session, Indian equity indexes extended losses to continue their dismal performance amid ongoing foreign capital outflows and varied movements on Asian bourses. Foreign portfolio investors (FPIs) withdrew up to Rs 6,834 crore from Indian markets in the first four trading sessions of February, weighing on sentiment.

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FPIs pulled out Rs 3,627 crore from stocks, Rs 3,173 crore from debt, and Rs 34 crore from hybrid instruments, according to depositories data. According to stock exchange statistics, foreign institutional investors (FIIs) continued to be net sellers in the capital market on Friday, selling shares worth Rs 2,267.86 crore.

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On the global front, Asian markets were trading mixed with Jakarta Composite soaring 46.25 points or 0.69% to 6,777.64, Straits Times advanced 19.37 points or 0.58% to 3,350.78, Shanghai Composite gained 65.37 points or 1.94% to 3,426.81 and Taiwan Weighted was up by 225.90 points or 1.28% to 17,900.30. On the other hand; Nikkei 225 slipped 191.12 points or 0.7% to 27,248.87, Hang Seng decreased 74.88 points or 0.3% to 24,498.41 and KOSPI was down by 10.32 points or 0.38% to 2,739.94.

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The Sensex is now trading at 57,904.86, down 739.96 points or 1.26% after ranging between 57,902.07 and 58,707.76. On the index, there were 6 stocks that advanced and 24 stocks that declined.

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The broader indices were trading in red with the BSE Midcap index losing 0.88%, while the Small cap index was down by 0.56%. The top gaining sectoral indices on the BSE were Utilities up by 1.28%, Metal up by 1.09%, PSU up by 1.05%, Power up by 0.94% and Oil & Gas was up by 0.13%, while Capital Goods down by 2.14%, Healthcare down by 1.70%, Telecom down by 1.47%, FMCG down by 1.43% and Consumer Durables was down by 1.21% were the top losing indices on BSE.

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The top gainers on the Sensex were SBI up by 2.52%, Tata Steel up by 2.28%, Power Grid up by 1.79%, NTPC up by 1.08% and Tech Mahindra was up by 0.19%. On the flip side, Larsen & Toubro down by 2.87%, HDFC Bank down by 2.60%, Bajaj Finance down by 2.46%, Bajaj Finserv down by 2.36% and Dr Reddy’s Lab was down by 2.12% were the top losers.

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The Nifty is presently trading at 17,288.95, down 227.35 points or 1.30% after fluctuating between 17,287.65 and 17,536.75. On the index, there were 10 stocks that advanced and 40 stocks that declined.

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The top gainers on Nifty were SBI up by 2.63%, Tata Steel up by 2.36%, Power Grid up by 1.84%, Coal India up by 1.22% and NTPC was up by 1.12%. On the flip side, HDFC Life Insurance down by 3.23%, Hero MotoCorp down by 2.96%, Larsen & Toubro down by 2.76%, Bajaj Finance down by 2.59% and HDFC Bank was down by 2.43% were the top losers.