Biggest gainers & losers of the day: MTNL hits upper circuit, Inox Wind drops 7%

New Delhi: Domestic equity markets continued to bleed on Monday as rising cases of Omicron variant in India pose a threat of recalling local curbs. The sharp selloff was led by IT, FMCG and pharma players.

The 30-share pack Sensex tanked 949.42 points or 1.65 per cent to close at 56,747.14. Its broader peer Nifty50 shed 242.70 points or 1.41 per cent to 16,954. The broader markets ended lower as the BSE midcap and smallcap indices fell over a per cent each.

Vinod Nair, Head of Research at Geojit Financial Services said, "ambiguity surrounding Omicron continued to dent the morale of domestic investors ahead of the important RBI policy announcement on Wednesday. The domestic market is expected to be volatile."

PSU telecom players MNTL hit its upper circuit as the government is eyeing to unlock the value of its land bank. JBM Auto shined before the stock split. Prakash Industries topped among the losers and investors booked profits in Nxtdigital.

Let's have a look at the biggest movers and shakers of Monday's session:

GAINERS

Mahanagar Telephone Nigam: The beleaguered telecom player hit its upper circuit of 20 per cent at Rs 22.65, as the government has kick-started the process of selling 20 properties of the state-owned telecom player in Mumbai and Delhi.

Privi Speciality Chemicals: The speciality chemical player zoomed 14 per cent to Rs 1,913.50 on the back of a strong technical setup on daily charts. The traded volume of the counter jumped manifold compared to the two-week average volume.

JBM Auto: The auto parts manufacturer surged 11 per cent to Rs 1,153.30, ahead of its board meeting scheduled to be held on Wednesday, December 8, to consider and approve the proposal of sub-division of company's equity shares having face value of Rs 5 each.

Morepen Laboratories: The smallcap pharmaceutical player advanced 10 per cent to Rs 58.05, as the drugmaker received approval from the US health regulator to market a generic anti-allergy drug in the US. It sells the product in India under the Fexopen brand.

HFCL: The telecom play hit its upper circuit of 10 per cent at Rs 78.35, after the company announced the appointment of two industry veterans for the Optical Fiber & Cable (OFC) business, in its two recently incorporated wholly-owned subsidiaries in the USA and Netherlands to bolster its international presence.

LOSERS

Prakash Industries: The metal player tanked 9 per cent to Rs 55.90 on the back of a weak technical setup on the daily charts. The traded volume of the counter jumped manifold compared to the two-week average volume.

Nxtdigital: The Hinduja Group's media arm shed 8 per cent to Rs 444.55, after the sharp run-up in the counter last week. It had surged 35 per cent in the last 5 sessions following the success of its rights issue, which was subscribed about 2 times.

Inox Wind: The energy player bled 7 per cent to 136.20 after the company's board of directors approved the initial public offering of its subsidiary, Inox Green Energy Services of up to Rs 500 crore.

Religare Enterprises: The NBFC dropped 6 per cent to Rs 149.50, as the poor sentiments for Star Health's IPO are likely to hurt the issue of Care Health, which is a subsidiary of the company. Religare holds about 70 per cent stake in Care Health.

Neogen Chemicals: The speciality chemical player declined over 5 per cent to Rs 1668.95 after the BSE sought clarification from the company over the sudden rise in its traded volume. It had jumped about 23 per cent in the last one week.