Following the news of a new COVID-19 mutant that was found in the UK and India' decision to temporarily halt flights from and this country till Dec 31, the sense was seen trading in the red. The benchmark indices witnessed free-fall dragging Nifty below 13,350 and Sensex below 45,600.
At close, the Sensex was down 1,406.73 points or 3.00 per cent at 45,553.96, and Nifty was down 432.10 points or 3.14 per cent at 13,328.
About 580 shares have advanced, 2381 shares declined and 163 shares are unchanged.
All the stocks on the Nifty 50 index ended in the red. ONGC (-9.24 per cent), Tata Motors (-8.86 per cent), GAIL (-8.28 per cent) and IOC (-7.29 per cent) were the top losers for the day.
On the sectoral front, all the indices ended in the red. Nifty PSU Bank was down 7 per cent, while Metal, Infra, Bank, Auto and Energy indices lost 4-5 per cent.
Authors View: The Nifty index might witness a further corrective move till 13,000 level. Traders should refrain from building a new buying position till the direction of the market becomes clear.
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