Published On : Fri, Dec 17th, 2021
Business News | By Nagpur Today Nagpur News

Sensex slumps points on rising Omicron cases

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Key indices of the Indian equities markets fell sharply on Friday dragged by across-the-board selling pressure as rising Omicron cases hit investors’ sentiments.

The benchmark Sensex slumped over 700 points while the Nifty 50 slipped 1.4 per cent.

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Auto, banking, and financial stocks slumped on concern that fast-spreading Omicron cases would derail the economic recovery.

IndusInd Bank and Titan plunged over 3 per cent. The selling pressure is across-the-board as 12 of the 30 scrips that are part of the Sensex were trading more than 2 per cent lower than their previous day’s close.

The benchmark Sensex opened in the positive 58,021.63 points against the previous day’s close at 57,901.14 points.

However, the selling pressure gripped the market from early trade itself and the Sensex plunged to 57,122.56 points at around 11.50 am, which is 1.34 per cent or 778.58 points lower than its previous day close. The broader Nifty 50 of the National Stock Exchange tumbled to 17,007.95 points, which is 1.39 per cent lower than its previous day’s close at 17,248.40 points.

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