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Sensex Plunges 450 Points in Early Trade; Nifty Slips Below 17,800
Sensex tanked over 900 points in opening trade, tracking losses in index-heavyweights HDFC twins, Infosys and TCS amid a negative trend in global markets.
Mumbai: The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty at the National Stock Exchange (NSE) declined sharply in early trade on Thursday due to profit booking by investors after sizeable gains in the past few sessions. The new COVID variant ‘Omicron’ also weighed on the market sentiment. Equity benchmark Sensex tanked over 900 points in opening trade, tracking losses in index-heavyweights HDFC twins, Infosys and TCS amid a negative trend in global markets.
The BSE index was trading 489.89 points or 0.81 per cent lower at 59,733.26 in early trade. Likewise, the Nifty slipped 142.95 points or 0.80 per cent to 17,782.30.
HDFC was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by HCL Tech, HDFC Bank, Infosys, Kotak Bank, Tech Mahindra and TCS.
On the other hand, Bharti Airtel, Sun Pharma, Dr Reddy’s and Tata Steel were the laggards.
In the previous session, the 30-share index surged 367.22 points or 0.61 per cent to end at 60,223.15. Similarly, the broader NSE Nifty climbed 120 points or 0.67 per cent to finish at 17,925.25.
Elsewhere in Asia, bourses in Shanghai, Seoul, Tokyo and Hong Kong were trading with losses in mid-session deals.
Stock exchanges in the US ended on a negative note in the overnight session.
Meanwhile, international oil benchmark Brent crude fell 1.13 per cent to USD 79.89 per barrel.
Foreign institutional investors (FIIs) were net buyers in the capital market, as they bought shares worth Rs 336.83 crore on Wednesday, according to stock exchange data.
(With inputs from PTI)