The German DAX index slipped more than 2 percent in Tuesday’s trade as panic and anxiety stemming from the Omicron variant of coronavirus reverberated in trading sentiment. Comments by vaccine maker Moderna’s CEO on the efficacy of vaccines against the highly mutated variant rattled stock market sentiment worldwide and the DAX too was not spared.
The forty-scrip index is currently trading at 15,060.65 down 2 percent over the previous close. The day’s trading has been within the range of 15003 – 15150.
At current levels, the DAX is 7.5 percent lower than the 52-week high of 16288.60.
Meanwhile, Germany’s November employment numbers came in at 5.3 percent versus forecast of 5.4 percent.
Pharma and Healthcare business Sartorius AG has gained close to 5 percent.
MTU Aero Engines declined around 4.3 percent. Airbus and Siemens Energy both declined more than 3.5 percent.
Specialty chemicals business BASF SE is the most active scrip with a turnover of 1.34 million euros. The scrip has lost around 2.5 percent.
Only 6 scrips in the 40-scrip index have advanced from previous day’s levels.
All the DAX super sector indices reflected deep losses. Industrials declined 1.90 percent while consumer goods were down 1.69 percent. Utilities too lost more than a percent. Pharma and healthcare subsector was the most resilient with a gain of around 0.81 percent.
The EURUSD pair hovered around 1.1363, 0.65 percent higher than the closing level at Monday, as a safe-haven demand for the Yen pulled down the Dollar Index to 95.70 from 96.22 on Monday.
The ten-year bond yield has decreased by 9 percent to -0.3515 versus -0.3230 percent on Monday amidst a virus induced risk aversion.
Inflation numbers for the Euro Area for the month of November is due later in the day. The annual inflation rate is expected to increase to 4.5 percent from 4.1 percent in the month of October.
DAX Dips As Omicron Dominates Sentiment
2021-11-30 10:05:30
