Sensex tanks 503 points; Nifty drops below 17,400

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Photo source: PTI

International oil benchmark Brent crude rose 0.11 percent to USD 75.23 a barrel.

Highlights

  • The Sensex fell 503 points on Monday.
  • The NSE Nifty was down 143.05 points, or 0.82 percent, at 17,368.25.
  • Bajaj Finance had the highest rate in the Sensex pack.

The equity benchmark Sensex fell 503 points on Monday amid mixed trends in global markets, weighed down by losses in the index’s main firms Reliance Industries, HDFC and Bajaj Finance. The 30-share index lost 503.25 points, or 0.86 percent, to settle at 58,283.42. Similarly, the NSE Nifty declined by 143.05 points, or 0.82 per cent, to 17,368.25.

Bajaj Finance topped the Sensex pack, falling nearly 3 percent, followed by Bajaj Finserv, Reliance Industries, M&M, Nestle India and SBI. On the other hand, Axis Bank, Tech Mahindra, Powergrid and Maruti were among the beneficiaries.

VK Vijayakumar, chief investment strategist at Geojit Financial Services, said the sharp rise in Omicron cases in the UK is a matter of concern for the global market.

Meetings at the US Fed, the ECB, the Bank of England and the Bank of Japan this week will indicate interest rates, bond yields and the medium-term movement of the market, he noted.

In India, the relentless sale of FPIs (Rs 33,799 crore in November and Rs 17,644 crore as of December 10) has been a major headwind for the market, especially for banking stocks, he added.

Elsewhere in Asia, shares of Seoul and Hong Kong ended with gains, while Shanghai and Tokyo were red. European stock exchanges were trading on a positive note in mid-session trading.

International oil benchmark Brent crude rose 0.11 percent to USD 75.23 a barrel.

Also read: Sensex jumps above 350 points in first trade; Nifty tops 17,600

Also read: Gold price today: Gold rises 61 rupees; The price of silver has come down by Rs 615

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