After ending positive in two consecutive trading sessions, the Indian markets fell amid selling pressure and Omicron covid variant scare on the last day of the week on Friday. Domestic equity benchmarks Nifty50 and S&P BSE Sensex both corrected by over one per cent, dragged by Reliance Industries, Asian Paints and banking shares.  

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The Nifty50 ended over 200 points or 1.18 per cent lower to 17,196.70 as 12 shares advanced and 38 declined on the Index. Similarly, the BSE Sensex corrected by over 750 points or 1.31% to 57,696 as only three shares were in the green and 27 ended negative on the 30-share Sensex.  

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Larsen and Toubro, IndusInd Bank and UPL and BPCL were top gainers on the two indices, while Reliance, Power Grid were top losers on both the indices.  

In the broader market Nifty small-cap gained 0.80 per cent, while mid-cap index ended flat with negative bias. Sectorally, except for Nifty Media, which gained 1.73 per cent, all other indices closed in the red.  

The week witnessed volatile trading sessions amid mixed global cues and new Covid 19 variant scare.  

“We have seen a complete week of volatility. India Vix touched the levels of 23.8 and is now trading at 18.4. Volatility continues in the global market also due to the Omicron variant of Covid and expects it to continue volatility in the coming weeks as well,” Yash Gupta, Equity Research Analyst, Angel One Ltd said after closing bells on Friday.

Meanwhile, headline indices S&P BSE Sesex and Nifty50 grew 1 per cent each with gains of 589 points, and 170 points for the week ended December 3, 2021.  

However, the Nifty IT and the S&P BSE SME IPO were the top gainers on the NSE and BSE for the week ended on December 3, showed data with Stock Edge, an app to analyse NSE and BSE data.

The Nifty IT gained 3.6 per cent or 1242 points, while the S&P BSE SME IPO surged 10.6 per cent or 1,067 points in the last 5 trading sessions. 

 

Source: Stock Edge

Nifty Alpha 50 (1.7%), Nifty Media (1.6%), Nifty CPSE (1.6%) and Nifty services Sector (1.5%) were other top performing indices on the NSE this week. 

Source: Stock Edge

Likewise, S&P BSE Information Technology gained 3.6%, S&P BSE Treck surged 3.1%, S&P BSE Consumer Durables was up 2.8% and S&P BSE Industrials added 2.1 % for the week ended December 3, 2021.  
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)