Rising Corona cases raise investor concerns, Sensex down 700 points, Nifty down 15,000

 

Corona cases, which are re-emerging in India, have raised concerns among investors. Whose impact is being felt on the stock market? While the Asian market is getting mixed signals. The Sensex opened at 50773 on the first day of the week, 19 points below the last closing level. Although the Nifty opened slightly higher at 15048 later the market saw a decline.

In the first hour before the stock market, the Sensex fell a maximum of 724 points and the index fell to the level of 50,069. The Nifty, on the other hand, touched a low of 14,818 in early trade, down 213 points from its previous close. At around 10 am, the Sensex was down 482 points at 50,310 and the Nifty was down 141 points at 14,890.

The first hour of trading saw the stock market sell out. All sector indexes reached the red mark during this period. The banking sector, the financial services sector, the pharma sector, and the private banking sector saw declines of more than 1%. The rest of the sector index, meanwhile, declined by half a percent. While the media sector index declined by 2%.