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Markets Update: Sensex, Nifty trading negative intraday amid Omicron scare – pharma, financials drag most
The BSE Sensex fell over 700 points from the day’s high level, while the Nifty testing the 17300 levels intraday today, mainly dragged by the financial service, pharma, FMCG and private bank stocks.
The Indian markets register weakness on the last day of the week, after surging for two consecutive days. The BSE Sensex fell over 700 points from the day’s high level, while the Nifty testing the 17300 levels intraday today, mainly dragged by the financial service, pharma, FMCG and private bank stocks.
The decline in the market is on the back of Omicron, a new covid-19 variant first reported in South Africa. The majority of European countries now including India has come under the grip of new variant, as the government on Thursday evening reported two cases of Omicron in Karnataka.
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At around 01:22 pm, the BSE Sensex was down over 410 points or 0.7 per cent to 58057, and the Nifty50 was down 105 points or 0.6 per cent to the 17297 levels intraday. The broader markets outperformed benchmark indices as midcap gained 0.33 per cent and small-cap up over 1 per cent intraday today.
Of 50 scrips on the Nifty, 18 advancing and 32 are on a declining trend intraday. Power Grid slumped most by over 2.5 per cent, followed by Reliance Industries down over 2 per cent intraday. While Bharti Airtel, Sun Pharma and Tech Mahindra each down over 1.5 per cent intraday.
On the contrary, UPL become the top gainer intraday, along with BPCL as both stocks surged over 2 per cent, followed by IOC, Tata Steel, ONGC, L&T each gained over 1 per cent intraday today.
Almost all sectoral indices are in the red, except for metal, media and realty. The Nifty Financial Service, Auto, Private Bank and Pharma declined most dragging the benchmark indices. On the contrary, media and realty stocks are aiding the broader markets to grow intraday today.
Two initial public offers — Tega Industries and Anand Rathi Wealth — are active on Friday, as it is the last day of subscription of the former, and the second day of the offer for the latter.
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