Sensex Hangs More Than 1,500 Points, Nifty Less Than 16,500 On Omicron Fears

Selling pressure was visible across all sectors, with all 15 sector indicators compiled by the National Stock Exchange trading lower.

Indian equity benchmarks extended losses after opening a downward spread as the spread of the Omicron variant of the coronavirus shook investor sentiment. The Sensex BSE fell to 1,587 and the Nifty 50 Index fell below its all-important psychological level of 16,500.

At 12:00 noon: At 35:00, the Sensex was down 1,572 points or 2. 8% to 55,440 and the Nifty 50 index fell 485 points or 2.85% to 16,500. Flooding the global economy in the new year.

Beijing calmed the mood a bit by slashing one-year loan rates for the 20-month freeze, although some were also hoping for a five-year rate cut. Chinese blue chips fell a further 0.4%, while the MSCI Asia-Pacific ex-Japan stock index fell 0.8%.

The Japanese Nikkei fell 1.7% and South Korean stocks fell 1.2%. SandP 500 futures fell 0.8% and Nasdaq futures nearly 1%. pressure others to follow, even though the United States seemed destined to remain open.

Back home, selling pressure was visible across all sectors as the 15 sector indicators compiled by the National Stock Exchange traded lower, led by the Nifty Metal Index with a drop of more than 3%.

The Nifty Bank, Auto, Financial Services, FMCG, IT, PSU Bank, Private Bank, Realty and Consumer Durable indices also fell 1.52.85%. The Smallcap 100 index fell almost 3%. Forty-eight shares in the Nifty 50 basket traded lower, driven by Bajaj Finance’s 4% decline.

JSW Steel, Tata Steel, State Bank of India, Bharat Petroleum, Tata Motors, ONGC, HDFC Bank, Hero MotoCorp, Axis Bank, Tech Mahindra, NTPC, Hindalco and Bajaj Finserv also fell 2.53.6%.

In contrast, Cipla and Sun Pharma are among the notable gains.The overall market size was extremely bearish as 2,389 stocks were down while 568 were up on BSE.

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