Market analysts attributed the decline to a new variant of the Covid-19 in some countries, including South Africa. Israel has suspended flights to several countries, including Britain, over a new coronavirus virus.
The emergence of a new variant of the coronavirus has shocked not only the world but also the stock market. Today, the Sensex is down nearly 1400 points and the Nifty is down nearly 300 points. Only pharmaceutical stocks are seen in the green zone in the Nifty. Market analysts attributed the decline to a new variant of the Covid-19 in some countries, including South Africa. A new strain of the coronavirus has caused several countries, including Britain and Israel, to suspend flights, prompting the Indian government to warn states to be vigilant.
According to experts, there are many international reasons behind the decline in India’s share market. The first is the new appearance of the coronavirus, the second is the fall in crude oil, the third is the breakdown in metals and economic benchmarks, and finally, the loss in the Asian market is affecting the Indian stock market. The Sensex fell in the opening session before the stock market opened on Friday. When the market started, it dropped by about 720 points. The market continued to decline in the morning trade, falling by 1422 points at 11 o’clock. In the morning trade, out of 30 companies included in the Sensex, only Drs. Shares of Reddy remained in the green zone, while shares of Maruti Suzuki reported the biggest decline of around 2.5%. Titan’s stock fell another 3.92 percent.
Nifty is also down :
Similarly, the Nifty index of the National Stock Exchange was in a bad shape. The Nifty also started weakening and opened with a fall of around 250 points, while it closed at 17,536.25 points on Thursday. The Nifty fell to 430 points in the morning trade. Out of the 50 companies included in the morning Nifty, Cipla is trading with the highest gain of 1.43 percent. The rest of the doctors are in Reddy’s and Sun Pharma Green Zones.
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