Sensex drops over 200 pts in early trade; Nifty slips below 13,700

MUMBAI (PTI):

Equity benchmark Sensex dropped over 200 points on Monday, tracking weak cues from global markets amid concerns over a new strain of the virus leading to recent restrictions in European countries.

The 30-share BSE index pared the gains to trade 202.44 points or 0.43 per cent lower at 46,758.25.

Similarly, the broader NSE Nifty slipped 66.75 points or 0.49 per cent to 13,693.80.

M&M was the top laggard in the Sensex pack, shedding around 2 per cent, followed by ICICI Bank, PowerGrid, Axis Bank, SBI, ONGC and IndusInd Bank.

On the other hand, L&T, Reliance Industries, Sun Pharma, Infosys and HCL Tech were among the gainers.

According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, a new and faster-transmitting strain of the virus in the UK is an area of concern. Acceleration in the number of cases in the US and poor economic data are other dampeners. (PTI)

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