12:48 pm - Saturday May 18, 2024

Sensex score above 1300 and below 16600 for fear of Omicron.

3325 Viewed Pallavi Kumar Comments Off on Sensex score above 1300 and below 16600 for fear of Omicron.

Indian stocks fell as the spread of the Omicron coronavirus ruined investor sentiment. The BSE Sensex benchmark dropped to 1,330 points and the Nifty 50 fell below the most important psychological level of 16,600. As of 11:02 am, Sensex closed at 55,681, down 1,330 points, and Nifty 50 at 16,582.
, down 403 points (2.37%). Covid19 has created stricter restrictions in Europe and threatens to flood the global economy before the new year.
Beijing has lifted the mood a bit by lowering the annual credit rate to the frost for the first time in 20 months, although some have hoped for an easing of the five-year rate. 4,444 Chinese blue chips were still down 0.4%, while non-Japan Asia Pacific stocks were down 0.8%. Japan’s Nikkei fell 1.7% and South Korea’s fell 1.2%.
S&P 500 futures fell 0.8% and Nasdaq futures fell nearly 1%. EUROSTOXX 50 futures fell 1.1% and FTSE futures fell 1.0%. The spread of the
Omicron left the Netherlands locked down on Sunday and forced other countries to follow suit, but the US still appeared to be open. Selling pressure was evident in all sectors as all 15 sector indicators compiled by
domestic stock exchanges traded lower thanks to the Nifty Metal Index dropping more than 3%. The Nifty Bank, Auto, Financial Services, FMCG, IT, PSU Bank, Private Bank, Realty and Consumer Durable indexes also fell 1.52.85%. The Nifty Midcap 100 fell 2.76% and the Nifty Smallcap 100 nearly 3%, facing sell pressure 4,444 mid- and small cap stocks. 48 shares in a basket of
Nifty 50 traded lower, falling 4% on Bajaj Finance. 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%.
On the other hand, Cipla and Sun Pharma were among the notable players. Comments:

Total market volume was extremely bearish in BSE with 2,389 shares falling and 568 shares rising.

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