Nifty, BSE Sensex End Lower After Late Sell-off

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Nifty, BSE Sensex End Lower After Late Sell-off
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Indian markets saw a sell-off in the second half of the trading session on January 6 after trading flat for the first half. Nifty and the BSE Sensex saw a mix of weakness in world markets, profit booking and bird flu impact them as they ended 0.38% and 0.54% lower respectively.

COVID-19 cases are just about coming under control in India and the vaccine rollout is expected to start soon. However, a new variant of the bird flu has hit the country. The state of Kerala has started culling ducks and chickens. The National Institute of High-Security Animal Diseases (NIHSAD) of the Indian Council of Agricultural Research has identified 12 epicenters in Rajasthan, Madhya Pradesh, Himachal Pradesh, and Kerala.

IT and FMCG stocks dropped today even as Bank Nifty gained 0.24%. ITC (NS: ITC ) dropped 2.98% today and Reliance Industries Ltd (NS: RELI ) fell 2.6%. Power Grid Corporation of India Ltd (NS: PGRD ) gained 4.39% while Hindalco Industries Ltd. (NS: HALC ) gained 3.68% on Nifty today.

European markets are readying themselves for another round of lockdown measures. The UK has gone on lockdown until mid-February, Germany until the end of January while France has a nationwide curfew in place. However, markets in all three countries are trading up at the time of this report. FTSE is up 2.19%, CAC 40 is up 0.57% and DAX is up 0.93%.

U.S. stocks are seen opening mixed Wednesday, with technology stocks getting slammed as investors factored in a Democratic win in crucial U.S. Senate run-off elections in Georgia.

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