Indices open lower on weak global cues, Nifty below 17000 points

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Mumbai: Indian benchmark indices opened on a weak note amid weak global cues.

At 09:17 IST, the Sensex was down 233.04 points or 0.41% at 56874.11, and the Nifty was down 91.50 points or 0.54% at 16935. About 683 shares have advanced, 1246 shares declined, and 94 shares are unchanged.

CIPLA, IndusInd Bank, Bharti Airtel, Sun Pharma, HCL Technologies and Dr Reddy’s Labs were among major gainers on the Nifty, while losers included Adani Ports, Tata Motors, JSW, Hindlaco, Hero MotoCorp, ONGC and M&M.

Last Friday, Indian stock markets witnessed heavy fall on rising concerns of Omicron variant of COVID-19.

The BSE benchmark Sensex was closed 1,687.94 points or 2.87% lower at 57,107.15 while the NSE Nifty50 index was settled 509.80 points or 2.91% lower at 17,026.45. This was the worst day for benchmark indices in the last seven months eroding investor wealth by 7.36 lakh crores as BSE market capitalisation slipped to 258.30 lakh crore from Rs.265.66 lakh crore.

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