Key stock indices Sensex and Nifty declined by more than 1 per cent in the early trade on Monday due🎉 to deep losses in financials, IT and auto stocks amid lingering worries over the emergence of the new COVID varian꧒t Omicron.
The 30-share BSE Sensex tumbled by 585.22 points or 1.02 per cent to 56,521.93 points with 25 of i༺ts components trading in the r💃ed.
The broader Nifty of the National Stock Exchange tanked 191.40 points or 1.12 pc to 16,835.05 𒁃as Adani Ports, Tata Motors and Hero MotoCorp dropped.
Amꦰong Sensex stocks, HDFC fell by 1.61 per cent, HUL by 1.22 ꦏper cent, and Maruti by 0.88 per cent.
Top loser:
Asian Paints, Bajaj Auto, UltraTech Cement, ITC, HDFC 🍃Bank, ICICI Bank, Infosys, and SBI were among the major los💝ers.
Bucking the trend, IndusInd emerged as the lead gainer rising by more than 1 per cent after ꩲthe Reserve Bank ofಌ India (RBI) allowed promoters to hold 26 per cent stake in private banks after 15 years.
Bharti Airtel and 🉐RIL also advanced, limiting losses in the index.
FII investors were net sellers in Indian stocks as they sold equities worth Rs 5,785.83 crore on net basis la♚st Friday.
A♐sian markets were also down as investors continued to assess the risks to the economic recovery posed by the new COVID variant Omicron.
Japan’s Nikkei 225 dro🐓pped 0.47 per cent, Hong Kong’s Hang Seng Index declined by 0.34 per cent and C𓆏hina’s Shanghai Composite was down 0.42 per cent.
(With PTI Inputs)
