The stock benchmark Sensex fell 770 points on Thursday to settle below 59,000 as selling pressure intensified on profit-taking in IT and financial stocks.

Continued foreign capital outflows also weighed on sentiment, traders said.

The 30-share BSE index closed down 770.31 points, or 1.29%, at 58,788.02. Likewise, the NSE Nifty index fell 219.80 points or 1.24% to 17,560.20.

HDFC was the biggest laggard in the Sensex package, down more than 3%, followed by Infosys, L&T, Kotak Bank, Bajaj Finserv and Tech Mahindra.

On the other hand, ITC, Maruti, Titan, SBI and Asian Paints are the winners.

Among the Sensex constituents, 25 stocks closed lower and 5 advanced.

In other Asian markets, Tokyo closed in the red, while Seoul was positive.

Several Asian markets, including China and Hong Kong, were closed for the Lunar New Year holiday.

European stock exchanges were mixed in intraday trading. Brent crude, the international oil benchmark, fell 0.65% to $88.89 a barrel.

Foreign institutional investors (FIIs) remained net sellers in capital markets, dumping shares worth Rs 1.836 crore on Wednesday, according to stock exchange data.

India’s services sector activity slowed further in January, a monthly survey on Thursday showed, as new business growth slowed markedly due to the escalating outbreak, reintroduction of restrictions and inflationary pressures.

The seasonally adjusted index of business activity in India’s services sector fell to 51.5 in January from 55.5 in December, indicating the slowest expansion in the current six-month growth series.

Complete News Source : Hindustan Times