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“Our outlook is that while in January we might see some impact of price hike and Covid, going forward, in February and March, we should see recovery with sales coming back strongly.”

Yash Gupta, Equity Research Analyst, Angel One said, "We have seen a good selloff in the market this week on the back of global market clues and some profit booking before the budget. We expect the market to continue its volatility till the budget and suggest investors be cautious."

The Nifty Bank index closed 0.73 per cent down at 37574.3.

“People will wait at least for that to settle for the next two to four weeks and then take a call. That is what we are hearing from the start-ups also. But if the markets keep on falling, then those four weeks may become eight weeks and then 12 weeks. People will wait for the markets to steady.”

In the first 13 trading days of the year compared to the same period last year, equity funds have seen $52 billion of inflows compared to a similar amount last year while bond and credit funds have seen tiny outflows after heavy inflows, according to BofA using EPFR data.

The stock hit a lifetime low of Rs 952, down about 4 per cent. It is now down 56 per cent from its IPO price of Rs 2,150

Its revenue from operations was up 33.82 per cent at Rs 958.11 crore during the period under review as against Rs 715.97 crore in the corresponding quarter of the previous fiscal.

The Nikkei lost 2.1% for the week, its biggest in seven weeks, while the Topix fell 2.5% in its worst week in eight.

Shares of ITC are down 16 per cent from October 2021 highs, Godfrey Phillips India is down 17.5 per cent while VST Industries is down 16 per cent from recent high.

Miners plunged 3.8%, closing the week lower after eight straight weeks of gains. The drop came after the vast mining state of Western Australia cancelled plans to reopen its borders on Feb. 5, citing risks from the Omicron COVID-19 variant.