Indian shares dropped the most in nearly four weeks on Friday, ending down over 1%, as investors locked in profits following the benchmark indexes hitting multiple record highs this week and as a proposed US stimulus package failed to surprise.
Sensex, Nifty close at record high for third day reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
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BENGALURU Indian shares swung between gains and losses on Tuesday as investors parsed through news of a new fast-spreading strain of the coronavirus in Britain that could slow global economic recovery.
The NSE Nifty 50 index was down 0.34% at 13,282.65 by 0520 GMT, while the benchmark S&P BSE Sensex fell 0.33% to 45,401.30.
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Both the indexes rose as much as 0.8% in early trade before changing course to fall up to 0.8%.
On Monday, the indexes tumbled 3% and snapped six straight sessions of gains as countries across the globe, including India, shut travel from Britain due to concerns over the new virus variant.
Indian shares mix following new coronavirus strain
22 Dec 2020
Gulf Today Report
Indian shares mixed on Tuesday as investors worry about the effect of the new coronavirus strain on the global economy.
The NSE Nifty 50 index was down 0.34% at 13,282.65 by 05:20 GMT while the benchmark S&P BSE Sensex fell 0.33% to 45,401.30.
Both indexes increased as much as 0.8% earlier on before falling.
On Monday, the index slid 3 %, snapping six straight sessions of gains as countries close their borders from Britain.
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Anand James, chief market strategist at Geojit Financial Services in Kochi said, the news related to the new coronavirus is being absorbed by the market and that explains the panic, most people seem to be reacting to it now and we are seeing some pressure after the initial bounce.
Sensex, Nifty adrift in volatile session, Reliance top drag reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.