domain | livemint.com |
summary | The Nifty50 Index, which is a benchmark stock market index, fell 1.6% on Wednesday due to the global uncertainty regarding the Omicron variant of Covid-19 and weak cues from the US markets. The decline was led by selling in IT, FMCG, and financial services stocks.
The S&P BSE Information Technology index (IT) fell 2.3% as shares of Infosys, Tata Consultancy Services (TCS), HCL Technologies, Tech Mahindra, and Wipro declined up to 4.1%. The Nifty FMCG index fell by 0.7% as stocks of Hindustan Unilever (HUL) and Nestle India declined marginally. The Nifty Financial Services Index was down 1.5%, with shares of HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, and IndusInd Bank declining up to 3%.
The market is expected to remain volatile in the coming days as global markets continue to react to the Omicron variant. It remains to be seen if any news regarding its severity or contagiousness will affect the stock market movements. Investors should exercise caution and monitor their portfolios closely during this period.
Despite the current downturn, there are still opportunities for long-term investors to buy stocks at attractive prices. Some experts recommend investing in fundamentally strong companies with a proven track record of growth. It is advisable to seek professional advice before making any investment decisions. |
title | Business News Today: Read Latest Business News, Live India Share Market News, Finance & Economy News | Mint |
description | Business News: Read latest Business News headlines, LIVE share market news and updates, financial, economic and banking news from India & across the World on Mint. |
keywords | price, share, read, more, view, news, bank, mint, market, india, calculator, farmers, markets, companies, best, finance, code |
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nslookup | A 2.17.153.132 |
created | 2024-02-23 |
updated | 2024-11-26 |
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