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Indian stocks failed to hold strong early gains and ended on a weak note after a somewhat volatile session on Tuesday, as the mood turned cautious amid uncertainty about the effectiveness of Covid-19 shots against the newly detected Omicron variant.<\/p>\n
Weakness in European markets<\/span> and lower U.S. futures weighed on the market in late afternoon trades. Investors also looked ahead to the upcoming data on India’s third-quarter GDP growth, and infrastructure output report for October.<\/p>\n The benchmark BSE Sensex, which soared more than 900 points to 58,283.77 earlier in the day, plunged to a low of 56,867.51 before finally settling at 57,064.87 with a loss of 195.71 points or 0.34%.<\/p>\n The National Stock Exchange’s Nifty50 ended down by 70.75 points or 0.41% at 16,983.20, falling from a high of 17,324.65.<\/p>\n The market turned weak on concerns over Omicron variant following a warning by Moderna CEO that vaccinations may gradually become less effective against the latest variant. The World Health Organization had on Friday termed the Omicron variant a matter of grave concern.<\/p>\n Metal, automobile and bank stocks were among the prominent losers. Consumer durables stocks moved higher. A few stocks from information technology<\/span> and realty sectors too closed notably higher.<\/p>\n Tata Steel shed about 4%. Kotak Bank, JSW Steel and Adani Ports declined 2.7 to 3%, while Bajaj Auto ended 2.1% down. <\/p>\n IndusInd Bank, Mahindra & Mahindra, HeroMotocorp, Bharti Airtel, Reliance Industries, Coal India, Eicher Motors, Maruti Suzuki, State Bank of India, HDFC and ONGC lost 1 to 2%.<\/p>\n Power Grid Corporation rallied more than 3%. Bajaj Finserv, Titan Industries, Tata Consumer Products, SBI Life, Infosys, Wipro, Tata Consultancy Services, Tech Mahindra and Bajaj Finance also posted strong gains.<\/p>\n Go Fashion (India) Limited shares soared nearly 82% on debut to settle at Rs 1,252.60. The Go Fashion counter on BSE clocked a volume of about 1.04 million shares on BSE. On the National Stock Exchange, the counter recorded a volume of nearly 17.55 million shares.<\/p>\n The market breadth was slightly positive. Out of 3402 stocks traded on BSE, 1778 stocks closed higher, 1471 stocks declined and 153 stocks ended flat. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n