Equity Indices Settle Down In Red, Tata Steel Among Top Loser (roundup).

Equity indices settle down in red, Tata Steel among top loser (Roundup).

New Delhi, Nov 30, : India’s equity indices were pushed into the red by the continued sell-off of foreign investors and fears of Omicron, a new Covid variant.
Notably, the session opened on a positive note with the indices.

 Equity Indices Settle Down In Red, Tata Steel Among Top Loser (roundup).-TeluguStop.com

The 30-scrip Sensex barometer closed at 57.064 points, a decrease of 195 points or 0.34 percent from its previous close.

The broader 50-scrip Nifty closed at 16,983 points, a decrease of 71 points or 0.4% from its previous close.

According to NSE data, the top losers in terms of stocks were Tata Steel, Kotak Mahindra Bank and JSW Steel shares.

Adani Ports, Bajaj Auto, Tata Steel and JSW Steel were the top losers.

According to NSE, these stocks closed at 4.01 percent, 3.10 percent, 2.69%, 2.65%, and 2.07% respectively.

Data showed that the top gainers in the session were stocks like Power Grid, Shree cement, Bajaj Finserv and Titan.

“The index has formed a bearish candle on a daily chart which suggests weakness for future trading sessions,” said Palak Kthari, Research Associate at Choice Broking.

Siddhartha Khimeka, Head of Retail Research at Motilal Oswal Financial Services, stated that “global markets remained weak over concerns regarding the effectiveness of current vaccines to combat this new Omicron variant.” Moderna’s statement that existing Covid-19 vaccinations would not be able to handle the omicron variant of the disease, which she predicted would cause a “material drop” in their effectiveness, caused a firestorm.

“We expect volatility to increase in the near-term market due to uncertainty surrounding the Omicron variant.

The market direction will be determined as soon as the clarity regarding its transmission, impact on mortality, and other issues emerges over the coming weeks.

Go Fashion shares made their debut on the exchanges on Tuesday with a premium at 90 percent at Rs 1,316 The company’s share was sold at Rs 690 per share.

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