Experts said the mood turned sombre after first Omicron cases were reported on Thursday from Karnataka
The new variant had rattled the markets, with several countries imposing travel restrictions, raising questions about whether the global economic recovery could sustain
Volatility continued on Tuesday as indices swing 1,300 pts to end 0.4% lower
The 50-share Nifty after dropping to a low of 16,782 managed to close at 17,053.95, with a gain of 27.5 points, or 0.16%
The gains were capped as the impact of the new variant on the economic recovery and central bank policy action remained uncertain
The Dow Jones Industrial Average was down 2.53 per cent at 34,898 in early trading, tracking its worst day since late October 2020
But keep an eye on the tracking error of funds based on S&P BSE 500 and Nifty 500
PowerGrid was the top gainer in the Sensex pack, rising around 4 per cent
Equity benchmarks buckled under selling pressure for the third session on the trot on Thursday as bearish global cues and a disappointing market debut for Paytm unnerved investors. The 30-share BSE Sensex tumbled 372.32 points or 0.62 per cent to finish at 59,636.01. Similarly, the NSE Nifty dived 133.85 points or 0.75 per cent to 17,764.80. M&M was the top loser in the Sensex pack, shedding 3.28 per cent, followed by Tech Mahindra, HCL Tech, L&T, Tata Steel, IndusInd Bank and Maruti. Only six index constituents managed to close in the green -- SBI, PowerGrid, HDFC Bank, Reliance Industries, ICICI Bank and HUL, climbing up to 1.16 per cent. In the broader market, One97 Communications Ltd, Paytm's parent company, crashed around 27 per cent in its market debut on Thursday. Paytm's Rs 18,300-crore IPO, the country's largest initial share sale, was subscribed 1.89 times last week. "Weak listing of India's largest IPO and soft global market amid rising inflation woes impacted ...
Benchmark indices shed about 0.6%; RIL, SBI drop by over 2% each
TCS rose by 0.83 per cent, while Infosys inched up 0.31 per cent
Gains led by IT, energy and realty stocks support positive sentiment
The consumer sector P/E of 43.9x in October is at a premium of about 17.6 per cent to its 10-year average of 37.4x
The BSE Midcap and Smallcap indices also gained 0.7 per cent and 1.4 per cent, respectively. Auto and capital goods shares were the prominent gainers
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Shares of FSN E-Commerce Ventures, company that operates Nykaa beauty stores, are trading at a premium of over 50 per cent in the grey market ahead of its Rs 5,352-crore IPO
Nifty has outperformed MSCI APAC index for 21 of the 26 weeks since May
The Nifty FMCG average valuations are 36 times, while its top six rivals are trading at an average of just over 50 times
The brokerage has an 'underweight' stance on India along with Taiwan and Australia (just downgraded from neutral)