AGL 5.27 Decreased By ▼ -0.13 (-2.41%)
ANL 8.75 Decreased By ▼ -0.04 (-0.46%)
AVN 76.62 Increased By ▲ 0.37 (0.49%)
BOP 5.22 Increased By ▲ 0.03 (0.58%)
CNERGY 4.44 Decreased By ▼ -0.04 (-0.89%)
EFERT 81.32 Increased By ▲ 0.22 (0.27%)
EPCL 49.39 Increased By ▲ 0.38 (0.78%)
FCCL 12.80 Increased By ▲ 0.10 (0.79%)
FFL 5.59 Decreased By ▼ -0.03 (-0.53%)
FLYNG 6.90 Decreased By ▼ -0.03 (-0.43%)
FNEL 4.67 Increased By ▲ 0.02 (0.43%)
GGGL 8.64 Increased By ▲ 0.04 (0.47%)
GGL 14.21 Increased By ▲ 0.06 (0.42%)
HUMNL 5.54 Increased By ▲ 0.05 (0.91%)
KEL 2.63 Increased By ▲ 0.04 (1.54%)
LOTCHEM 28.04 Increased By ▲ 0.33 (1.19%)
MLCF 24.05 Increased By ▲ 0.45 (1.91%)
OGDC 71.13 Decreased By ▼ -0.44 (-0.61%)
PAEL 15.34 Increased By ▲ 0.14 (0.92%)
PIBTL 4.87 Decreased By ▼ -0.04 (-0.81%)
PRL 16.08 Increased By ▲ 0.25 (1.58%)
SILK 1.13 Increased By ▲ 0.08 (7.62%)
TELE 9.07 Increased By ▲ 0.08 (0.89%)
TPL 7.09 Decreased By ▼ -0.07 (-0.98%)
TPLP 19.09 Decreased By ▼ -0.09 (-0.47%)
TREET 21.20 Increased By ▲ 0.06 (0.28%)
TRG 139.80 Increased By ▲ 3.30 (2.42%)
UNITY 16.77 Increased By ▲ 0.01 (0.06%)
WAVES 9.41 Increased By ▲ 0.26 (2.84%)
WTL 1.36 Decreased By ▼ -0.02 (-1.45%)
BR100 4,186 Increased By 30.5 (0.73%)
BR30 15,467 Increased By 131.3 (0.86%)
KSE100 41,819 Increased By 279.4 (0.67%)
KSE30 15,448 Increased By 82.9 (0.54%)
Follow us

BENGALURU: Indian shares ended lower on Friday, dragged down by most major sector indexes and heavyweights Reliance and Kotak Mahindra Bank, while concerns around two cases of the Omicron coronavirus variant in the country further weighed on sentiment.

The blue-chip NSE Nifty 50 index ended 1.18% down at 17,196.70 and the benchmark S&P BSE Sensex fell 1.31% to 57,696.46.

Both the indexes, however, saw their first weekly gain in three.

"The volatility in the markets is mainly because of uncertainty around the new coronavirus variant, and due to pressure from foreign institutional investors selling," said Aishvarya Dadheech, fund manager at Ambit Asset Management.

He added that pronounced selling in large-cap stocks such as those in the technology, banks and telecom sectors had a strong impact on Friday.

Indian shares surrender early gains on Omicron worries

Among major sub-indexes, the Nifty Energy index fell nearly 1%, with Reliance Industries falling 3% to lead losses.

The Nifty bank, IT and pharma indexes were among other major losers, falling between 0.83% and 0.86%. Kotak Mahindra Bank fell 2.5%.

Investors are also looking ahead to the Reserve Bank of India's monetary policy meeting next week.

"RBI's monetary policy meeting will be a key market driver as investors await a policy decision that is broadly expected to hold an accommodative stance considering the uncertainty surrounding the new variant," Vinod Nair, head of research at Geojit Financial Services, said in a note.

Meanwhile, European shares opened firmer on Friday, shrugging off weakness in Asia as markets appeared to be accepting the possibility of more COVID-linked activity curbs and an accelerated pace of stimulus tapering by the US Federal Reserve.

Comments

Comments are closed.

Indian shares end lower on Omicron uncertainty, Reliance drag

Finance Minister Dar briefs President Alvi on country’s economic situation

Arshad Sharif murder case: Supreme Court orders formation of new JIT

Rupee registers marginal decline, settles at 224.16 against US dollar

President for improving Pakistan’s IT ecosystem to facilitate growth

ECP supports use of electronic voting machines: Chief Election Commissioner

China announces nationwide loosening of Covid restrictions

UNGA adopts Pakistan-piloted resolution to bolster UN’s relief system

Japan announces additional $38.9mn for flood victims

One killed as Bangladesh police fire at opposition rally

Oil dips, hits lowest since January as U.S. data fans fuel demand fears