Sensex sheds nearly 500 points as global markets sold off in the wake of Covid-19 new variant
2 min read
Sensex Share Market has been in the negative today due to the new variant of Covid-19 named Delta Variant. The new variant was found in multiple countries and it has made the investors take out a wholesome amount of money from the stock market. The 30-share benchmark index fell 485.82 points to 52,568 while the Nifty dropped 151.75 points to 15,727. The Sensex suffered heavy losses as Tata Steel fell 2.30 percent followed by Sun Pharma, SBI, ICICI Bank, Dr. Reddy’s, Kotak Bank, and HUL. These stocks were listed in the top tier earlier but now it has been a bit difficult for the market to rise.
Powered by a solid base of fundamentals, the 24 Sensex stocks rose to 1.32%. Of the 30 stocks, 13 Sensex stocks were in the red.BSE small-cap and mid-cap indices fell 83 points and 23 points, respectively. The banking and metal were major losers today, with the banks and metal indices dropping 562 and 463 points, respectively. The cause of the losses was a combination of global concerns about the health of large European banks following their recent decline in stock prices. The BSE Sensex and Nifty are also concern over Greece’s future in the eurozone and the ongoing recession.
Wall Street is falling as a new report says the United States’ central bank is looking into stopping or reducing bond purchases that have helped prop up the U.S. economy. Meanwhile, in Japan, there has been a rise in recent cases of a deadly medical virus that can cause breathing problems and kidney failure, prompting the government to announce emergency measures.
Asian stocks and Tokyo markets lost value after a good start today. The Shanghai Composite index is at 3,525.50 losing 0.8%. Hang Seng in Hong Kong is at 27,153.13 losing 2.9%.
Also read: Alberto Del Rio promises to expose Paige’s domestic violence arrests
Suvajit
I am a young entrepreneur from Kolkata, India and the Co-founder Of TheRecentTimes. I am a Computer Science student and love programming. Also I like to play computer games and watch anime.
