Sensex Plunges 600 Points, Nifty Below 14,500 In Early Trade. Zomato, Paytm Touch Lifetime Lows

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New Delhi: Share markets opened in red on Monday. Pharma, metal and IT stocks fell sharply in early trade. As of 9:32 AM, Sensex was down over 600 points at 58,425. However, it recovered a little and was trading at 58,496 as of 10:00 AM. 25 out of 30 stocks in the index were in the red with Bajaj Finance and Wipro among the top losers.Also Read – Global Crypto Market Loses $1 Trillion As Bitcoin Goes South

The shares of Zomato and Paytm touched their respective lows since the listing. Zomato shares fell around 18 per cent to Rs 98 per share on BSE, On the other hand, Paytm shares were trading at Rs 918. Interestingly, it was listed at Rs 2,150 per equity share. Also Read – Adani Wilmar IPO To Open On January 27. Check Price Band, Face Value, Other Details Here

Nifty too was struggling and was trading at 17,442 as of 10:00 AM, on Monday. 40 out of 50 stocks in the index were declining. The fall was led by Divi’s Laboratories. Other stocks that were in the red in Nifty50 were Hindalco, Tech Mahindra and Wipro. In metal stocks, JSW Steel fell over 3 per cent. Also Read – This Tata Stock To Give Excellent Returns In One Year! Rakesh Jhunjhunwala Owns 3.92 Crore Shares Of This Company. Do You Own It?

In the indices, NIFTY Media saw the biggest fall of 2.5 per cent, followed by Nifty IT and Nifty Metal. In Media, Nazara and ZEEL were among the top losers. However, in Metal and IT, Apollo Tubes and Coforge were top losers respectively.

On the flip side, shares of ONGC and Cipla were trading in the green and were up over 2 per cent in the 50 shares pack, Nifty50. In Sensex, IndusInd Bank and SunPharma were trading in green.

In other news, Adani Wilmar IPO will open for public subscription on January 27, 2022. The company has announced a price band of Rs 218-230. The company owns oil brands like Fortune oil etc.

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