MARKET UPDATE: Sensex quoted 653 points lower at 56,358 level while Nifty broke below the 16,800-mark at 16,795, down 190 points
Published On: Monday, December 20, 2021 | By: Team KnowMyStock
Indian benchmark indices opened lower today (20th Dec.2021) as investors continue to track the spread of the Omicron Covid variant. The World Health Organization recently warned that the number of cases is doubling in 1.5 to 3 days in areas with community spread. That apart, Asian stocks dropped in early trading today after China slashed its benchmark lending rate for the first time in more than one-and-a-half years. The move likely indicates policymakers' concerns around the slowing economic growth in China, which worried investors. The BSE Sensex quoted 653 points lower at 56,358 level while the Nifty50 broke below the 16,800-mark at 16,795, down 190 points. Both the indices were down over 1 percent each. In the broader markets, the BSE MidCap and SmallCap indices fell 2 percent each.
Among individual stocks, shares of Future Retail zoomed 20 per cent after India's antitrust body competition commission of India (CCI) on Friday said Amazon's 2019 deal with Future will remain in abeyance, citing US e-commerce major's failure to notify certain commercial arrangements as part of 2019 deal. The competition watchdog has also imposed ₹200 crore penalty on Amazon.
That apart, Cipla added 1 per cent after the drug major received approval from the USFDA to market the Lanreotide injection, used for the treatment of acromegaly and gastroenteropancreatic neuroendocrine tumors, in the American market. Among sectors, the Nifty Bank tanked 550 points, or 1.5 per cent, at 35,064 level.
Tags: Indian benchmark indices spread of the Omicron Covid variant slowing economic growth in China Future Retail zoomed 20 percent
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