Sensex, Nifty Slip To Three-Month Low On New Virus Strain Concerns
India's stock benchmarks slipped further at closing, considerably paring all gains made in yesterday's session. The indices have logged their worst weekly drop since January.
The S&P BSE Sensex declined 2.87% to 57,107.15. The 30-stock gauge even fell below 57,000 briefly. The NSE Nifty 50 index also fell by 2.91% to 17,026.45.
The S&P BSE Midcap index bled the most, falling by 3.2%, while its larger peer in S&P BSE Largecap too fell by almost 3%. The S&P BSE SmallCap index, too, fell 2.6%.
All but one sectoral index compiled by the BSE Ltd. declined, with S&P BSE Healthcare the only gainer, amid concerns of a new virus variant emerging out of South Africa. The S&P BSE Realty ended the day with a 6.4% decline.
The market breadth was skewed in the favour of bears at close. About 1,065 stocks advanced, 2,245 declined and 105 remained unchanged.
Sensex, Nifty Slip 3%
Shriram Transport Down Most In Seven Months
Shares of Shriram Transport Finance Co. Ltd. dropped 7.6%, the most in seven months.
Shares declined to Rs 1,450.8 apiece from RS 1,570.9. The stock was the worst performer among its peers.
ITC To Acquire 16% Stake In Mother Sparsh Baby Care
Kolkata-based conglomerate ITC Ltd., in an exchange filing, announced that it will acquire a 16% stake in Mother Sparsh, a premium ayurvedic and natural personal care start-up in the D2C space for Rs 20 crore.
"Recognising the significant potential of naturals and Ayurveda, ITC has taken this strategic step forward to invest in this segment. Over the last few years, ITC has been engaging with the start-up ecosystem whilst also exploring innovative distribution channels," the company said in a statement.
Divi's Labs Shares Up 5.7%, Most In Seven Weeks
Shares of Divi's Laboratories Ltd. gained amid a rise in healthcare and tourism stock in India. It rose 5.7%, with the company's call options and trading volume at triple the average.