The stock market rallied for three straight days, but broke down on the fourth day of the week. The market opened on the red mark on Thursday. BSE’s 30-share Sensex tumbled over 500 points to fall back below 60,000 as soon as the market opened. The Sensex is currently trading at 59,402, down 820 points or 1.36 percent.
The stock market rallied for three straight days, but broke down on the fourth day of the week. The market opened on the red mark on Thursday and saw a sharp decline due to weak global cues and rising cases of Corona infection.
BSE’s 30-share Sensex tumbled over 500 points to fall back below 60,000 as soon as the market opened. Initially, the Sensex fell 585 points to 59,638. Currently, the Sensex has lost 820 points or 1.36 percent in just half an hour of trading and is trading at 59,402.
Like the Sensex, the National Stock Exchange’s index Nifty also fell sharply with the Nifty down 171 points to close below 17,800. Shares of Adani Ports were the biggest losers today and fell as much as 18 percent. On the other hand, shares of Hindalco are the top gainers and have climbed over 9 percent.
It may be mentioned that on Wednesday, the stock market closed with bulls for the third consecutive trading day. The Sensex closed up 367 points, or 0.61 percent, at 60,233, while the NSE Nifty gained 120 points, or 0.67 percent, at 17,925.
The scourge of Corona in the country, the constant increase in the cases of Omicron spread among the investors
India has again seen a record breaking rise in Corona cases. In the last 24 hours, 90928 new cases of corona virus have been reported in the country. Apart from this, 325 people have died due to corona. There has been a jump of 56.5 percent in corona cases compared to Wednesday.
Due to this, there has been a flutter among the investors as well. Night curfew to weekend curfew has been announced in several states of the country. So the apprehension of a lockdown is still being served.
