New Delhi, Feb. 11 -- The downside momentum continued in the Indian stock market for the fourth consecutive session on Monday. The Nifty 50 index ended 178 points lower at the 23,381 mark, the BSE Sensex corrected 548 points and closed at 77,311, whereas the Bank Nifty index ended 177 points down at 49,981. The bloodbath in the Mid-cap and the Small-cap segments proved particularly severe. The Nifty Mid-cap index bore the brunt of the selling spree, nosediving 2.1% to 52,471, significantly underperforming its large-cap counterparts, registering a relatively modest decline of 1%.

Speaking on the outlook for the Nifty 50 today, Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said, "The underlying trend of the Nifty 50...