Rising Covid cases, global cues subdue equities

Rising Covid cases along with mixed global cues pulled India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- lower during the trade session on Monday morning. Consequently, both the indices had a gap down opening from their respective previous closes.

Rising Covid cases along with mixed global cues pulled India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- lower during the trade session on Monday morning.

Consequently, both the indices had a gap down opening from their respective previous closes.

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At 10 a.m., the S&P BSE Sensex traded at 56,985.73 points, down 0.24 per cent from its previous close.

Similarly, the broader 50-scrip Nifty at the National Stock Exchange (NSE) rose to 16,957 points, up 0.27 per cent from its previous close.

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"The Indian Benchmarks made a negative opening amid mixed Asian markets cues. Traders may be cautious as the RBI data showed the country's foreign exchange reserves declined by $160 million in December month so far," said Gaurav Garg, Head of Research, CapitalVia Global Research.

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"There may be some concerns in the markets with the rising cases of the Omicron Corona virus variant rising across the country."

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