Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices snapped 3-day winning run as traders preferred to book profits following the recent gains, given the unpredictable news flow around the Omicron threat.

The BSE Sensex had touched a high of 57,624 in opening trades helped by positive overseas cues, but soon dipped into red and dropped to a low of 56,813 (down 810 points) from the day's high.

The NSE Nifty moved in a range of 246 points, from a high of 17,156, however, the index tested a low of 16,910 during the session.

At the closing bell, the BSE Sensex stood lower by 191 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 69 points (down 0.4%).

HCL Technologies and Tech Mahindra were among the top gainers today.

Grasim Industries and NTPC, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,005, down by 68 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended down by 1.2% and 0.6%, respectively.

Sectoral indices ended on a negative note with stocks in the power sector, realty sector and oil & gas sector witnessing selling pressure.

Shares of Radico Khaitan and KPIT Technologies hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng ended up by 0.1%, while the Shanghai Composite ended down by 0.7%. The Nikkei ended on a flat note today.

US stock futures are trading on a positive note today with the Dow Futures trading up by 193 points.

The rupee is trading at 75.02 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 48,227 per 10 grams.

In news from the finance sector, L&T Finance Holdings was among the top buzzing stocks today.

Shares of L&T Finance Holdings lost 7% today after foreign lender HSBC said its asset management arm will be acquiring L&T Mutual Fund from L&T Finance Holding for US$425 m in a bid to grow its franchise in the country.

L&T Finance Holdings' share price dropped to a low of Rs 79.3 against the previous close of Rs 82.6 on the NSE.

The divestment of mutual fund business is in line with the strategic objective of L&T Finance Holdings of unlocking value from its subsidiaries to strengthen its balance sheet.

The acquisition of LTIM (L&T Investment Management) is in line with the strategic growth plans of HSBC in India, the company said in the exchange filing, adding that HSBC stands to gain from an experienced team, diversified assets, strong retail customer base and the vast geographical reach that L&T Mutual Fund has built over the years.

The transaction is subject to the requisite regulatory approvals. Both LTIM and HSBC AMC will work to ensure that there will be continuity of services to their investors and counter-parties in the interim, reports said.

At present, L&T Investment Management is the 12th largest asset management company in India.

L&T Finance Holdings' share price ended the day down by 6.8% on the BSE.

Moving on to news from the pharma sector...

Ajanta Pharma Jumps 5% as Board to Mull Share Buyback Plan

After three days of consecutive fall, shares of Ajanta Pharma rose as much as 5% today on its buyback plan.

The company's board of directors will meet on Tuesday, December 28, to consider a proposal for the buyback of equity shares of Ajanta Pharma.

Ajanta Pharma is a specialty pharmaceutical company engaged in the development, manufacturing and marketing of quality finished dosages.

The company's business includes branded generics in emerging markets of Asia and Africa, generics in the developed markets of the US and Institution sales.

In India, the company has a presence in high growth specialty segments of cardiology, dermatology, ophthalmology and pain management. Emerging markets are the major contributors to the company's branded generic business.

Its institutional business comprises supplies to various government bodies in India and supplies of Anti-Malarial products under WHO-approved programs in Africa.

Ajanta Pharma operates 7 state-of-the-art manufacturing facilities in India.

Ajanta Pharma's share price ended the day up by 3.1% on the BSE.

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