Sensex, Nifty Plunge on January 23: FII Selling, Weak Earnings, Adani Woes Drag Market

• Indian equities saw a significant decline on January 23, with Sensex falling 769.67 points and Nifty dropping 241 points.
• Key factors contributing to the fall include sustained selling by Foreign Institutional Investors (FIIs), who offloaded shares worth Rs 2,549.80 crore.
• Disappointing quarterly results from index heavyweights like ICICI Bank and HCL Technologies also dampened market sentiment.
• Geopolitical uncertainties, despite a temporary easing of US-Europe trade tensions, kept investors cautious.
• A sharp sell-off in Adani Group stocks, following reports of SEC summons regarding alleged fraud and bribery, further impacted the market.

Why It Matters: Indian markets fell sharply due to FII selling, weak corporate earnings, geopolitical concerns, and Adani Group stock decline.