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Reasons Why Nifty is falling like anything:
Covid lockdowns:
Austria said it would reintroduce lockdowns -- and make vaccination mandatory from February -- to fight a worrying jump in new infections. Other countries including Germany, Slovakia, the Czech Republic and Belgium were also bringing in measures.
Rate hikes earlier than expected:
Bundesbank president Jens Weidmann publicly contradicted the European Central Banks official line on Friday, warning that inflation may stay above 2 per cent for some time and that the ECB should avoid any commitment to keeping the money taps open.
Crude oil falls:
Oil extended losses as major consumers including the United States considered releasing some of their reserves to keep a lid on prices, which have been a key reason for the jump in inflation this year.
Broader markets:
Broader market indices were trading down, underperforming their headline peers in morning trade. Nifty Smallcap was down 0.84 per cent while Nifty Midcap declined 0.83 per cent. Broadest index on NSE, Nifty 500 was down 0.58 per cent.
Global markets:
Asian markets mostly fell Monday. In early trade, Tokyo, Hong Kong, Sydney, Wellington, Taipei, Manila and Jakarta were all down, though there were gains in Seoul and Singapore.
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