Eleven of 15 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty IT index's 0.9 per cent decline.
Investors were seen booking profits after a strong four-day rally in which both the benchmarks- Sensex and Nifty climbed more than 4% each.
The Sensex rose 367 points to close at 60,223 and the Nifty 50 index climbed 120 points to close at 17,925. Mid- and small-cap shares underperformed their larger peers as Nifty Midcap 100 index rose 0.15 per cent.
Reliance Industries, Axis Bank, Bajaj Finance, Tata Consultancy Services, ITC, State Bank of India and NTPC were among the top movers in the Sensex.
The stock indices fell by 10 per cent from their peak in October, but analysts said the current valuation will not bring excitement to the investors considering the rising Omicron cases.
Till December 29 this year, the Sensex has gained 10,055.16 points or 21.05 per cent and the index climbed to its all-time high of 62,245.43 points on October 19.
Buying in information technology shares like Infosys, HCL Technologies, Wipro and Tata Consultancy Services helped benchmarks stage partial recovery
Minors can transact in equities through mutual funds, but it’s important for them to seek proper guidance and advice. Also, starting to invest early helps inculcate the habit of investing.
The BSE Sensex rallied 589.31 points to 57,696.46, and the Nifty50 climbed 170.25 points to 17,196.70. It is believed that volatility in the market is likely to continue amid Omicron uncertainty and the RBI monetary policy meet.
Japan's benchmark Nikkei 225 rose 1.0 per cent to 28,577.34 in morning trading. Australia's S&P/ASX 200 gained 1.2 per cent to 7,325.00. South Korea's Kospi lost 0.4 per cent to 2,898.40.
The Sensex nosedived 1,688 points on Friday amid concerns over the new coronavirus variant that also led to a rout in global markets. During the last week, the BSE benchmark plunged 2,528.86 points or 4.24 per cent.
The market capitalization of BSE-listed tanked Rs 4,48,223.31 crore to Rs 2,61,18,730.57 crore during the day. Tata Steel, HDFC, IndusInd Bank and Maruti were the biggest laggards.
The stock market witnessed a decisive downside breakout on Monday. NSE Nifty crashed 348 points and closed at 17,416 levels while BSE Sensex closed at 58,465 levels.
Many other analysts feel that the equity markets would watch out for global cues in absence of any major event on the domestic front, and indices may face volatility because of the scheduled derivatives expiry this week.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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