Sensex Falls Over 450 Points On Omicron Fears; RBI Meeting In Focus
NDTV
Indian equity benchmarks fell on Monday as the country recorded more cases of the Omicron variant over the weekend.
Indian equity benchmarks fell on Monday as the country recorded more cases of the Omicron variant over the weekend, while investors awaited a central bank decision that could leave interest rates on hold to sustain an economic recovery from the pandemic lows in 2020.
The Sensex fell as much as 484 points to hit an intraday low of 57,212 and Nifty 50 index dropped 136 points or 0.8 per cent to 17,060.
The Nifty IT index fell 1.40 per cent and was set to mark its second straight session of losses. The Nifty Realty index rose nearly 2 per cent, while the Nifty Metal index climbed 1.35 per cent.
"Metal stocks are currently at an attractive valuation and we don't see any more correction in them in the near term. IT has performed well overall, but since activity in the U.S. is much lower for December, a slightly muted performance can be expected," said Anita Gandhi, director at Arihant Capital Markets.
