The Sensex fell by 1688 points
Investors’ loss of Rs 7.35 lakh crore Nifty also below 17,100 points
News Agency / Mumbai
Indian stock markets were hit hard on Friday by the discovery of a new variant of the Corona, which has been making inroads in all sectors for the past two years. The BSE benchmark Sensex fell by 1688 points on Friday on the back of strong selling. News spread around the world that a new variant of the Corona was found in South Africa on Thursday. This created an atmosphere of great anxiety among the investors. The market capitalization of companies listed on the BSE fell by Rs 7,35,781.63 crore to Rs 2,58,31,172.25 crore.
Also, the new incarnation of the Corona has had an impact on the Indian currency market along with the stock market. The rupee weakened by 37 paise to close at 74.89 against the dollar.
The BSE benchmark Sensex opened lower on Friday. The Sensex plunged by more than 1,600 points, costing investors an estimated Rs 6 lakh crore. A fall of 2.87 per cent in the Sensex brought the Sensex down to 57,107 points.
The 30-share index fell 1687. 94 points, or 2.87 per cent, to close at 57,107.15. Similarly, the wide-based National Stock Exchange index Nifty declined by 509.80 points, or 2.91 per cent, to close at 17,026.45. Shares of IndusInd Bank fell the most in the Sensex. It was followed by Maruti, Tata Steel, NTPC, Bajaj Finance, HDFC and Titan. On the other hand, Dr. Shares of Reddy’s and Nestle India rose. The Sensex plunged 720 points in early trade on Friday. The market has seen a decline in the number of corona patients overseas this week. The Sensex and Nifty have fallen as much as four per cent this week, down eight per cent from their previous highs, said Shrikant Chauhan, head of equity research (retail) at Kotak Securities. The new incarnation of the Corona could pose a number of challenges, such as lockouts and traffic bans. In addition, rising inflation around the world has raised concerns. Foreign investors sold heavily this week.
In Asian markets, Shanghai, Hong Kong and Tokyo fell nearly 2.67 percent. European markets were down 3.51 percent by noon. Brent crude, meanwhile, fell 5.62 per cent to 77 77.60 a barrel in international trade. The new corona virus has been detected in 100 patients worldwide. Sandeep Sabharwal said that the news has frightened the investors and they are planning to withdraw the money. Meanwhile, the European Union (EU) has temporarily suspended flights to Africa. Which has created a negative atmosphere in the market.