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Markets fell sharply; Sensex tanks 949 points & Nifty ends below 17,000
December 16: Top Gainers & Losers on Nifty 50
- The S&P BSE Sensex tanked 949.32 points or 1.65 per cent to 56,747.14 while the Nifty 50 index breached the 17,000-mark by falling 284.45 points or 1.65 per cent to close at 16,912.25.
- The Nifty Bank declined 461.25 points or 1.27 per cent to settle at 35,735.90.
Domestic equity benchmarks corrected sharply for the consecutive second session on Monday, December 6, 2021, amid uncertainty around the new variant of CORONA Virus, Omicron. In addition, it seems that the investors also turned conscious ahead of the outcome of the Monetary Policy Committee (MPC), where RBI may introduce measures to tackle inflation.
The benchmarks, Sensex and Nifty 50, declined more than one and a half per cent amid mixed cues from the global equity markets. The S&P BSE Sensex tanked 949.32 points or 1.65 per cent to 56,747.14 while the Nifty 50 index breached the 17,000-mark by falling 284.45 points or 1.65 per cent to close at 16,912.25. The Nifty Bank declined 461.25 points or 1.27 per cent to settle at 35,735.90.
In the broader markets at the BSE, the S&P BSE MidCap and S&P BSE SmallCap both fell by 1.35 per cent. All the sectoral indices on the NSE ended in the red.
The market breadth was weak. On the BSE, 1418 shares rose and 2004 shares fell. On the Nifty 50 index at the NSE, just one share advanced and 49 shares declined. The only gainer on Nifty was UPL (up 0.44 per cent). The top five losers were IndusInd Bank (down 3.70 per cent), Tata Consumer (down 3.36 per cent), Bajaj Finserv (down 3.27 per cent), Bharti Airtel (down 3.01 per cent) and TCS (down 2.93 per cent).
Economy
The Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) that began today will end on December 8, 2021, the day when MPC's interest rate decision will be disclosed. In the previous meeting, MPC kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4 per cent.
Finance Minister Nirmala Sitharaman today told Lok Sabha that the Centre has earmarked Rs 70,051 crore to be allocated to all the states for five years as the health sector grants. During Question Hour, she said the allocation is being made as per the recommendation of the 15th Finance Commission to augment health infrastructure across the country. Ms Sitharaman said the Centre has released Rs 13,000 crore for the first year in a single instalment upfront, though the Finance Commission recommendation permits the disbursal in two instalments.
The Minister said the health infrastructure gaps are being assessed in coordination with the national level committee under the Ministry of Health and Family Welfare and the state-level committees to improve the situation.
