Amid uncertainties, Nifty extended fall for the second straight session and breached the 17,000 mark after nose diving close to 300 points in trade on December 6, 2021. The sharp fall of close to 1000 points on the Sensex is attributed to factors such as worries over the new Omicron virus, continued FII selling and caution just before the MPC outcome which started today. India VIX on the meltdown climbed over 8 percent.
Among Nifty sectoral indices, while all the indices ended in the red, it was the IT and auto pack which saw the most losses to the tune of 2.7 and 1.84 percent, respectively. Realty and metal stocks which were seen gaining ground in early trade also gave up initial gains to end lower by over 1 percent.
"Indian markets opened in red and continued to witness selling pressure throughout the day. All the sectors ended in red. Selling was witnessed in heavyweight sectors like IT, auto, banking, pharma and FMCG sectors. Concern over the new variant of Covid and the upcoming RBI meeting on interest rate kept the market volatile.
"Overall, we expect market volatility to remain high until there is clarity on the impact of the new virus. Also, FII selling has been pretty strong adding to the overall market weakness", noted Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Nevertheless, few of the stocks gained sharply by up to 20% despite the broader sell-off. Here below are listed those stocks together with the run-up seen in them today:
|Stock||Sector||Last traded price as on December 6, 2021 (In Rs.)||% gains on December 6, 2021|
|Vimta Labs||Contract Research and Testing Organisation||421.3||12|
|JBM Auto||Auto ancillaries||1154.3||11|
|Odyssey Technologies Ltd.||IT||79.75||10|