Sensex nosedives over 1,000 points in early trade; Nifty tanks below 16,700

https://ift.tt/eA8V8J

Mumbai, December 20

Equity benchmark Sensex plummeted over 1,000 points in early trade on Monday, tracking across-the-board losses amid a selloff in global markets as concerns over rising omicron cases spooked investors.

Persistent foreign fund outflow, too, weighed on investor sentiment.

The 30-share index slumped 1,028.61 points or 1.8 per cent to 55,983.13 in the opening trade. Similarly, the Nifty tanked 307.50 points or 1.81 per cent to 16,677.70.

Bajaj Finance was the top loser in the Sensex pack, shedding around 4 per cent, followed by Tata Steel, SBI, NTPC, Mamp;M and HDFC Bank.

On the other hand, Sun Pharma was the sole gainer.

In the previous session, the 30-share equity benchmark had ended 889.40 points or 1.54 per cent lower at 57,011.74. Similarly, the NSE Nifty had plunged 263.20 points or 1.53 per cent to 16,985.20.

Foreign institutional investors remained net sellers in the capital market, as they sold shares worth Rs 2,069.90 crore on Friday, according to stock exchange data.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with heavy losses in mid-session deals as concerns over resurgence of Covid cases battered global sentiment.

Meanwhile, international oil benchmark Brent crude fell 2.45 per cent to USD 71.72 per barrel. PTI

The Tribune