Closing Bell: Last hour recovery offsets some loss as Sensex, Nifty end 2% lower – Cipla, HUL, Dr Reddy's only gainers

The Indian markets recovered from its day’s low minutes before its closing time on Monday. In this, Sensex closed nearly 1200 points recuperating at least 600 points from lows, while Nifty50 closed above 16600-mark before an important support level redeeming almost 150 points from lows. 

Both the benchmark indices witnessed the biggest ever intraday fall on Monday, on the back sell-off from foreign institutional investors (FIIs) and the rising cases of new covid variant Omicron. 

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At the market close, the Sensex plunged over 1189 points or 2.09 per cent to 55822, and Nifty50 cracked over 317 points or 2.18 per cent to 16614. Similarly, the broader markets underperformed the benchmarks as both mid and small-cap also witnessed selling pressure, down around 4 per cent.  

Only 3 stocks on Nifty50 closed in the green, of which Cipla jumped most in the otherwise negative market, up over 4.17 per cent, followed by HUL up almost 2 per cent and Dr Reddy up 1 per cent.