- With the collapse of the corona, the market started selling chauffeurs
- The Sensex fell by 1000 points while the Nifty fell by 280 points
- Investors took the plunge into the lockdown
Across the country, the coronavirus has re-emerged. In Maharashtra, Karnataka, the number of patients is increasing rapidly and a partial lockdown has been implemented as a precautionary measure. The repercussions were felt in the capital markets today. With the collapse of the corona, the stock market started selling chauffeurs. The Sensex fell by 1,000 points on Monday, while the Nifty fell by 280 points.
The capital market has been under selling pressure since this morning. Investors in IT, banks, financial institutions, and autos are all set to sell. As a result, the Sensex has fallen by more than 1,000 points. With the fall, the Sensex has broken the level of 50,000. Investors have lost at least Rs 2.6 lakh crore in today’s session. The market capitalization of companies has increased from Rs 203 lakh crore to Rs 201 lakh crore.
Out of 30 stocks, 27 fell on the BSE benchmark Sensex. These include HUL, Nestle, Titan, Bharti Airtel, Infosys, Bajaj Finance, ITC, Reliance Industries, Bajaj Finserv, HDFC, TCS, SBI, HCL Tech, Asian Paints, Ultratech Cement. ONGC, HDFC Bank, and Kotak Mahindra Bank were the top gainers.
The Sensex is currently trading at 49,881 points, down 1,008 points. The wide-based National Stock Exchange Nifty is down 264 points at 14,713 points. The fall has sent shockwaves through investors. For the second straight session, the Sensex fell sharply. Earlier in the day, the Sensex had lost 435 points.
Shares of banks are currently falling sharply. Among them, PNB, Central Bank of India, Bank of Maharashtra, Union Bank of India, UCO Bank, ICICI Bank, Axis Bank, Indian Overseas Bank, and Bank of India have declined sharply.
Concerns are being raised globally as the number of corona patients continues to rise. Apart from that, crude oil prices have also been rising in the last few days. As a result, petrol and diesel in India have reached record levels. Various organizations have predicted that the rise in fuel prices will lead to higher inflation in the future. The prospect of a rate cut by the Reserve Bank of India has dimmed. Investors have sold on the stock market, fearing that the recovering economy will find itself in crisis again.