INSUBCONTINENT EXCLUSIVE:
Indian equity benchmarks edged lower on Monday dragged by losses in index heavyweights like Infosys, HDFC Bank, Maruti Suzuki, Bajaj
Finance, Kotak Mahindra Bank, Asian Paints and Mahindra - Mahindra amid weak cues from other Asian markets
Asian share markets lagged a bounce in United States and European futures on Monday, while bonds surrendered some of their recent gains and
oil rallied as Saudi Arabia lifted its crude prices.November's mixed United States jobs report did little to shake market expectations of
a more aggressive tightening by the Federal Reserve, leaving a week to wait for a consumer price report that could make the case for an
early tapering.Omicron remained a concern as the variant spread to about one-third of United States states, though there were reports from
South Africa that cases there only had mild symptoms.Early trade was cautious as MSCI's broadest index of Asia-Pacific shares outside
Japan inched down 0.4 per cent.Japan's Nikkei eased 0.6 per cent, even as the government considered raising its economic growth forecast
to account for a record $490 billion stimulus package.As of 9:25 am, the Sensex was down 39 points at 57,657 and Nifty 50 index slipped 23
points to 17,174.Selling pressure was broad-based as twelve of 15 sector gauges compiled by the National Stock Exchange were trading lower
led by the Nifty Auto index's over 1 per cent decline
Nifty Bank, Financial Services, IT, Pharma, PSU Bank Private Bank and Oil - Gas indices also fell between 0.5-1 per cent.On the other hand,
real estate, consumer durables and metal shares were witnessing buying interest.Mid- and small-cap shares were also facing selling pressure
as Nifty Midcap 100 index declined 0.32 per cent and Nifty Smallcap 100 index fell 0.2 per cent.IndusInd Bank was top Nifty loser, the stock
fell 2.2 per cent to Rs 930
Maruti Suzuki, Bajaj Finance, Infosys, Tata Motors, HDFC Bank, HCL Technologies, NTPC, Eicher Motors, Kotak Mahindra Bank, Cipla and Indian
Oil were also among the losers.On the flipside, Hindalco, JSW Steel, Tata Steel, Larsen - Toubro, Grasim, HDFC
Adani Ports and Britannia Industries were among the gainers.The overall market breadth was neutral as 1,463 shares were advancing while
1,351 were declining on the BSE.
