Sensex down 549 points

The stock market on January 15 witnessed a sharp rise in losses. The stock market lost ground on global indications. The Sensex was down 549 points at 49,034.

Similarly, Nifty fell by about 250 points. The Nifty is currently trading at 14,358 points. It closed with a drop of 162 points.

All sectors recorded losses. Bank Nifty also came under selling pressure. IT stocks were the biggest losers. The Nifty IT index was down 2.31 per cent. Shares of public sector banks, pharma and metal also declined. Most of the Nifty stocks lost ground. Only 26 stocks gained while 48 stocks declined.

Shares of Bharti Airtel surged 4 per cent on the back of an announcement that it would increase its weightage in the MSCI Global Standard Index. Shares of Bharti Airtel have risen 15 per cent in the past one month.