Sensex Recovers Over 700 Points From Day's Low, Nifty Reclaims 17,000
NDTV
HDFC Bank, HDFC, ICICI Bank, State Bank of India, Infosys, Larsen & Toubro and Axis Bank were among the top drags on the Sensex.
Indian equity benchmarks recovered most of their losses after staging a gap down opening on Monday as concerns over new Covid-19 variant continue to spook investors. The Sensex recovered nearly 700 points from the day's lowest level and Nifty 50 index reclaimed its important psychological level of 17,000 after hitting an intraday low of 16,782. Recovery in the market was led by buying interest in Reliance Industries, Tata Consultancy Services, HCL Technologies, Infosys and Bharti Airtel. While, HDFC, HDFC Bank, Hindustan Unilever and Asian Paints were among the top drags.
As of 9:50 am, the Sensex was up 70 points at 57,165 and Nifty 50 index declined 3 points to 17,023.
The Omicron coronavirus variant spread around the world on Sunday, with new cases found in the Netherlands, Denmark and Australia even as more countries imposed travel restriction to try to seal themselves off.
The World Health Organization (WHO) said it was not yet clear whether Omicron, first detected in Southern Africa, is more transmissible than other variants, or if it causes more severe disease.
