NEW DELHI: Equity indices plunged on Monday with the benchmark BSE sensex falling over 500 points dragged by banking, financial and metal stocks.
The 30-share BSE index fell 503 points or 0.86 per cent to close at 58,283. While the broader NSE Nifty settled 143 points or 0.82 per cent lower at 17,368.
Bajaj Finance, Bajaj Finserv, Reliance, M&M, Nestle India and SBI were the top losers in the sensex pack falling as much as 2.97 per cent.
Whereas Axis Bank, Tech Mahindra, Maruti, Power Grid, Titan, Sun Pharma and Dr Reddy’s were the only gainers.
On the NSE platform, sub-indices Nifty Media, PSU Bank, Oil & Gas and Realty stocks fell as much as 1.81 per cent.
The sharp rise in Omicron cases in the UK is a concern for global markets, V K Vijayakumar, chief investment strategist at Geojit Financial Services told news agency PTI.
Meetings of the US Fed, ECB, Bank of England and Bank of Japan this week will give cues on the medium term trajectory of interest rates, bond yields and markets, he noted.
Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,092.40 crore on Friday, according to the exchange data.
The relentless selling by FPIs (Rs 33,799 crore in November and Rs 17,644 crore up to December 10) has been the major headwind for the market, particularly for banking stocks, Vijayakumar added.
(With inputs from agencies)
The 30-share BSE index fell 503 points or 0.86 per cent to close at 58,283. While the broader NSE Nifty settled 143 points or 0.82 per cent lower at 17,368.
Bajaj Finance, Bajaj Finserv, Reliance, M&M, Nestle India and SBI were the top losers in the sensex pack falling as much as 2.97 per cent.
Whereas Axis Bank, Tech Mahindra, Maruti, Power Grid, Titan, Sun Pharma and Dr Reddy’s were the only gainers.
On the NSE platform, sub-indices Nifty Media, PSU Bank, Oil & Gas and Realty stocks fell as much as 1.81 per cent.
The sharp rise in Omicron cases in the UK is a concern for global markets, V K Vijayakumar, chief investment strategist at Geojit Financial Services told news agency PTI.
Meetings of the US Fed, ECB, Bank of England and Bank of Japan this week will give cues on the medium term trajectory of interest rates, bond yields and markets, he noted.
Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,092.40 crore on Friday, according to the exchange data.
The relentless selling by FPIs (Rs 33,799 crore in November and Rs 17,644 crore up to December 10) has been the major headwind for the market, particularly for banking stocks, Vijayakumar added.
(With inputs from agencies)
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