The major stock indexes Sensex and Nifty fell more than 1% in early trading on Monday due to sharp declines in financial stocks, IT stocks and auto stocks, and there are still concerns about the emergence of a new COVID variant Omicron.
30 shares of BSE Sensex fell 585.22 points, or 1.02%, to 56,521.93 points, of which 25 components lost money.
Due to declines in Adani Ports, Tata Motors and Hero MotoCorp, the broader Nifty of the National Stock Exchange fell 191.40 points, or 1.12 percentage points, to 16,835.05.
Among Sensex stocks, HDFC fell 1.61%, HUL fell 1.22%, and Maruti fell 0.88%.
Asian Paints, Bajaj Auto, UltraTech Cement, ITC, HDFC Bank, ICICI Bank, Infosys and SBI are the main losers.
After the Reserve Bank of India (RBI) allowed promoters to hold 26% of private banks in 15 years, IndusInd bucked the trend and rose by more than 1%. Bharti Airtel and RIL also rose, limiting losses in the index.
FII investors are net sellers of Indian stocks because they sold shares worth 5,785.83 crore last Friday.
As investors continue to evaluate the risks of the new COVID variant Omicron to economic recovery, Asian markets also fell.
Japan’s Nikkei 225 Index fell 0.47%, Hong Kong’s Hang Seng Index fell 0.34%, and China’s Shanghai Composite Index fell 0.42%.
News Source : Hindustan Times
