Rising Covid Cases, Global Cues Subdue Equities

Mumbai: Rising Covid cases along with mixed global cues pulled India’s key equity indices — S&P BSE Sensex and NSE Nifty50 — lower during the trade session on Monday morning.

Consequently, both the indices had a gap down opening from their respective previous closes.

At 10 a.m., the S&P BSE Sensex traded at 56,985.73 points, down 0.24 per cent from its previous close.

Similarly, the broader 50-scrip Nifty at the National Stock Exchange (NSE) rose to 16,957 points, up 0.27 per cent from its previous close.

“The Indian Benchmarks made a negative opening amid mixed Asian markets cues. Traders may be cautious as the RBI data showed the country’s foreign exchange reserves declined by $160 million in December month so far,” said Gaurav Garg, Head of Research, CapitalVia Global Research.

“There may be some concerns in the markets with the rising cases of the Omicron Corona virus variant rising across the country.”