Indian shares were a tad lower on Monday as investors fretted over the spread of the Omicron variant of Covid-19 and looked ahead to the RBI’s bi-monthly monetary policy meeting this week for directional cues.

The benchmark S&P BSE Sensex dropped 180 points, or 0.3 percent, to 57,517 in early trade, while the broader NSE Nifty index was down 76 points, or 0.4 percent, at 17,120.

Tata Motors, Infosys, HCL Technologies, Maruti Suzuki India and IndusInd Bank fell 1-2 percent in the Nifty pack, while commodity-related stocks such as Hindalco and JSW Steel were up over 1 percent.

Hero MotoCorp edged down slightly after expanding its operations in Argentina.

Tata Motors dropped 1.1 percent on the price hike buzz.

Tech Mahindra was moving lower after it acquired Activus Connect, which provides work-at-home customer experience management solutions, for $62 million.

Lupin was little changed after signing a pact to distribute and market biosimilar Pegfilgrastim in Brazil.

Indiabulls Housing Finance lost 1 percent on fund raising reports.

Mangalore Refinery and Petrochemicals declined half a percent. The company said it would buy compulsory convertible debentures worth up to Rs 1,000 crore issued by its subsidiary ONGC Mangalore Petrochemicals.

Morepen Laboratories soared nearly 8 percent. The drug maker has received approval from the U.S. FDA to market its generic anti-allergy drug in the American market.

Market Analysis




Sensex, Nifty Modestly Lower In Cautious Trade

2021-12-06 04:25:34

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