The key benchmark indices, reversed course in intra-day deals as global cues turned bearish after US pharma major Moderna warned that Covid-19 shots seemed less effective against Omicorn.
Taking cues from the same, the BSE Sensex which had rallied to a high of 58,184 , tumbled to a low of 56,868 – down 1,316 points from the day’s high owing to the late sell-off.
The NSE Nifty tanked 394 points from its high of 17,325 to a low of 16,931.
Despite paring gains, the broader markets outperformed the benchmark indices in trade on Tuesday on the back of selective buying.
PowerGrid Corporation, however, was the top gainer up 3.3 per cent at Rs 206.50.
Reliance Capital was locked at the 5 per cent lower circuit at Rs 18.10 on the BSE after the Reserve Bank of India hit a fresh 52-week low of Rs 442 on the BSE in Tuesday’s intra-day trade in an otherwise range-bound market on growth concerns.
Within the midcap space, Rajesh Exports has zoomed 8 per cent to Rs 772.
Whereas, Pilani Investment, Aurum Proptech, EKC, Reliance Capital, Urja Global, Gokul Agro Resources and JP Associates were the significant losers.
Shares of Ratnamani Metals & Tubes soared 9 per cent to Rs 2,203 on the BSE in the intra-day trade on Tuesday after the company said it has received new domestic orders aggregating to Rs 297.87 crore from the oil & gas sector.
Among the Sensex 30 stocks, PowerGrid and Bajaj Fin twins were the major gainers.
Elsewhere in Asia, Nikkei and Hang Seng tumbled 1.6 per cent and 1.9 per cent, respectively.
The sharp fall in the markets was likely triggered after US-based vaccine producer, Moderna, told Financial Times that effectiveness of vaccines would likely struggle against the Omicron variant of Covid-19.
The Nifty50, too, has oscillated between 17,324 and 16,987 during the day.
Hang Seng index, too, is down 2.3 per cent.
LIVE market updates: The frontline indices were flat in pre-open trade, although with a positive bias.
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