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Markets in free fall, Sensex plunges 1000 points; here’s why – Moneycontrol

The top losers on the Nifty are Adani Ports, Adani Enterprises, ICICI Bank, SBI and BPCL. Nifty Auto and FMCG managed to trade higher, as other sectors tanked

The Republic Day break did little to dissuade the bears which were back in force on January 27, with the Sensex sinking 1,000 points to 59,156 and the Nifty slipping below the 17,600 mark, down more than 300 points in the afternoon trade as investors remain nervous ahead of Budget 2022-23.

Adani Ports, Adani Enterprises, ICICI Bank, SBI and BPCL were among the top Nifty losers. Nifty auto and FMCG managed to eke out some gains as other sectors were trading deep in the red red.

Despite firm global cues, investors remained nervous ahead of Budget 2023. Here are the factors dragging D-Street lower:

1 Budget 2023