Sensex and Nifty are down for the third consecutive session.

Sensex and Nifty Extend Losses for Third Straight Session

Written by: Supriya Kadu

Edited by: Pinky Deshmukh

Last Updated: January 10, 2025

Summary: Even with the advances in IT, the Sensex and Nifty went down in the early trading because of rising volatility.

After a good start on Friday, the Sensex and Nifty50 declined in the blue-chip indices. The Nifty fell by 159.20 points (0.68%) to 23,367.30 by 10 AM, while the Sensex was down 450.92 points (0.58%) to 77,169.29.

The market's scope remained poor, with 505 stocks advancing, 2,597 stocks falling, and 89 stocks staying steady.

At the opening bell, the BSE Sensex rose 116 points, or 0.15%, to 77,736.55, while the Nifty50 up 14.15 points, or 0.06%, to 23,540.

Asia-Pacific markets witnessed mixed sentiments as they examined the data regarding Japan's November wage and household expenditure.

The actual household spending in Japan in November decreased by 0.4% year over year, which was less than analysts had predicted and better than the 1.3% loss in October.

Additionally, the average actual income per household in Japan increased by 0.7% to $5,252.98, or 514,409 yen.

Regional performance saw a 0.52% fall in the larger Topix index and a 0.66% decline in Japan's Nikkei 225. The small-cap Kosdaq fell 1.07%, while South Korea's Kospi fell 0.41%. The S&P/ASX 200 in Australia dropped 0.64%.

In China, the Shanghai Composite increased by 0.07%, the CSI 300 increased by 0.03%, and Hong Kong's Hang Seng index increased by 0.4%.

On Thursday, US Treasury yields declined from an eight-month peak as the dollar appreciated versus other major currencies. This change occurred as the US economy showed signs of resiliency and investors reevaluated the Fed's interest rate strategy for 2025.

The widely followed 10-year US Treasury yield fell by 0.45 basis points to 4.689%, after hitting 4.73% on Wednesday, marking its peak since April 2024.

Due to a worldwide bond selloff and growing concerns about the UK economy, the pound witnessed its biggest three-day fall in over two years.

This situation has put pressure on British gilts, sending yields to their highest point in more than 16 years.