Market LIVE updates: Sensex 700 pts lower, Nifty near 16,450; Banks hit

Live market updates: Tracking weakness in asian and global peers, the domestic benchmark indices started trade lower on Monday amid the Russia-Ukraine conflict uncertainty. The BSE Sensex fell 688 points to 55,170, while the NSE Nifty was at 16,481, lower by 177bpoints.

Among the Sensex-30 shares, Tata Steel and PowerGrid were the only gainers, up to 1 per cent higher. Bharti Airtel, HDFC Bank, Dr Reddy’s, Asian Paints, Maruti, M&M, Bajaj Finserv, Kotak Bank, and Axis Bank, meanwhile, were the top losers, down up to 3 per cent.

In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down 1 per cent each.

Among sectors, the BSE Auto, Telecom, Bankex, and Realty indices slipped 2 per cent each, while IT and Pharm were down over a per cent each. BSE Metals was the outperformer and was flat in a weak market.

Individually, shares of Biocon were down over 3 per cent each after the company said its arm Biocon Biologics will acquire Viatris Inc’s biosimilar assets for a stock and cash deal of $3.3 billion.

With Thanks Refrence to: https://www.business-standard.com/article/markets/market-live-sensex-nifty-russia-ukraine-war-biocon-bharti-airtel-122022800150_1.html