SBI, Tata Steel, HDFC twins are among the worst hit as Sensex sheds over a 1,000 points mirroring a global sell-off

• The global market sell-off, triggered by Omicron concerns, has seeped over into the Indian markets as well.
• Sensex declined by over 1,000 points, with markets reeling across sectors like banking, auto, metals and oil.
• SBI, Tata Steel, HDFC twins were amongst the biggest losers.

Indian indices slipped in the first hour of opening today, beginning the week with a steep fall. The BSE Sensex shed over 1,000 points, while Nifty 50 fell by over 300 points. SGX Nifty, which is usually an indicator of the market trends, was down by 75 points earlier in the morning.

The fall in Indian markets is in line with the other Asian markets like Japan, Hong Kong, China and Taiwan, which were down by up to 2%. Concerns around rising cases of the Omicron variant of Covid-19 and tighter restrictions in European countries threatening to drag the pandemic into the new year was a major trigger for the negative market sentiments.

The Netherlands went into a complete nationwide lockdown and media reports suggest that there is a possibility that this could spill over through Christmas and New Year.

White House medical advisor Dr. Anthony Fauci urged people to get booster shots. While Germany’s health minister ruled out the possibility of a Christmas lockdown, he warned that a fifth Covid-19 wave could no longer be stopped.

The steep market fall in today’s morning trade was felt across sectors, with banking, metals, auto and FMCG registering amongst the top losers.

Here are the top 10 losers as of 10:00 a.m., on the benchmark Nifty50 index:

Company	Change	% change
BPCL	-14.8	-3.85
Bajaj Finance	-253.4	-3.67
Tata Steel	-38	-3.36
Tata Motors	-15.4	-3.28
SBI	-15.1	-3.23
ONGC	-4.3	-3.08
JSW Steel	-20	-3.03
Kotak Mahindra	-53.35	-2.97
HDFC Life	-19.45	-2.96
HDFC Bank	-42.65	-2.9

Source: NSE, as of 10:00 a.m.

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