New Delhi: Indian equity benchmarks – Sensex and Nifty – which edged higher in early trade on Tuesday riding on positive global momentum, declined sharply after the CEO of US drugmaker Moderna sounded fresh alarm bells after he warned that the spread of COVID-19 The vaccines seemed to be less effective against Omicron. As for the version they have been against the delta version.
The BSE Sensex tumbled over 1,250 points from day’s high and Nifty 50 index slipped below 17,000 after hitting a high of 17,324.
Investors were waiting for the Gross Domestic Product (GDP) data, which is expected to show strong economic recovery in the country in the second quarter.
Sensex closed 196 points lower at 57,065 and Nifty 50 index fell 71 points to 16,983.
Power Grid topped the bluechip names with a gain of 3.12 per cent. Shree Cements, Bajaj Finserv, Titan, Tata Consumer, SBI Life Insurance and Infosys were among the other gainers. Tata Steel, Kotak Bank and Bajaj Auto were the top losers of the day.
Tata Steel was the top Nifty topper, with the stock falling 4 per cent to close at Rs 1,070. Kotak Mahindra Bank, JSW Steel, Adani Ports, Bajaj Auto, IndusInd Bank, Mahindra & Mahindra, Bharti Airtel, Hero MotoCorp, Hindalco, Reliance Industries and Coal India also fell between 1.6-3.1 per cent.
Despite the gains, the broader markets outperformed the benchmark indices in trading on the back of selective buying. The BSE Midcap index rose 0.3 per cent, while the Smallcap index gained 1.5 per cent. With 1,772 shares rising on the BSE, while 1,478 declined, the overall breadth was marginally positive.
On the other hand, shares of Go Fashion, which owns women’s clothing brand Go Colors, made a great opening on the exchanges on Tuesday as the stock listed with a hefty premium of around 91 per cent over its issue price of Rs 690.
The shares were listed at Rs 1,316 and rose 94.34 per cent to Rs 1,341 on the BSE, reflecting a sharp jump of 90.72 per cent.
It started with Rs 1,310 on the NSE, jumping 89.85 per cent.
,