Market collapses: Sensex falls 1707 points due to fear of corona, investors lost about eight lakh crores


Today, the market was sold all day, and the biggest decline in 2021. The Bombay Stock Exchange's flagship index Sensex closed down 1707.94 points, or 3.44 percent, at the level of 47883.38. The National Stock Exchange's Nifty closed at 14310.80, down 524.05 points, or 3.53 percent. Over eight lakh crore rupees of investors have lost money.

Last week, the 30-share BSE Sensex lost 438.51 points or 0.87 percent. Last year, on March 23, due to Corona, the market showed a huge decline. Then the Sensex had reached a low of 25,800. However, it later reached 52000 after the situation slightly improved. But now cases of infection are increasing again in the country, due to which the market continues to sell.

1.70 lakh new corona cases in 24 hours

The second wave of Coronavirus is wreaking havoc in the country. On Monday, all the records of Corona infection cases that are found in a day in the country have been destroyed. A record 1.70 lakh new corona patients have been found in the last 24 hours and more than 900 people have died. The death toll is also increasing with the new infected in the country. In the last 24 hours, 904 people died due to corona. This is the largest number of people who lost a single day in the last six months. Earlier, on October 17 last year, the maximum number of 1,032 people had died.

Vinod Modi, Strategic Head, Reliance Securities, said, "The fall in the market on Monday reminded me of the huge fall in the domestic stock markets in March 2020. The increase in Kovid cases in the country has led to the possibility of lockdown in many states, which affected investor sentiment. Investors are reluctant to take risks due to the revival of the economy and the possibility of corporate earnings being affected.

Global market fluctuations

On Friday, the US market saw a boom. The US Dow Jones gained 0.89 percent to close at 33,800.60, up 297.03 points. The Nasdaq closed at 13,900.20, up 70.88 points, with a gain of 0.51 percent. Similarly, the markets of France and Germany were also growing. But Asian stock markets are in decline. Hong Kong's Hangseng index closed down 373 points at 28,305. China's Shanghai Composite Index also fell 24 points to 3,425. Korea's Cospi index declined marginally. It closed at 3,130. Australia's All Ordinaries Index declined by 37 points to 7,214. Japan's Nikkei index closed down 172 points at 29,596.

Additionally, investors are cautious ahead of the fourth-quarter results. Corona may see an impact during the fourth quarter after good results in two consecutive quarters, so investors are wary before investing.

Such was the situation of veteran shares

Talking about the big stocks, today the shares of Cipla, Divis Lab, Doctor Reddy, and Britannia closed on the green mark. The shares of Tata Motors, Adani Ports, IndusInd Bank, Bajaj Finance, and UPL closed at the red mark.

Sectoral index tracking

If we look at the sectoral index, then all the sectors closed on the red mark today. These include Media, IT, FMCG, PSU Bank, Pharma, Metal, Auto, Realty, Private Bank, Bank, Pharma, and Finance Services.

Bounce in market capitalization of four of the top 10 companies last week

Last week, the market capitalization of four of the top 10 companies of the Sensex increased by Rs 1,14,744.44 crore. The biggest beneficiaries were Tata Consultancy Services and Infosys. Apart from these, the market valuation of Hindustan Unilever Limited and Bharti Airtel also increased. Reliance Industries retained the first position in the list of top 10 companies. It was followed by TCS, HDFC Bank, Infosys, Hindustan Unilever, HDFC, ICICI Bank, Kotak Mahindra Bank, State Bank of India, and Bharti Airtel respectively.

Sensex was down by 813.07 points.

In early trade, the Sensex was down by 813.07 points (1.64 percent) to open at 48,778.25 level. The Nifty opened at 14,589, down 245.90 points, or 1.66 percent. After this, the Sensex declined by 1818.10 points at 3.01 pm and reached the level of 47773.10. The Nifty was down 558.25 points (3.76 percent) at 14276.60.

The stock market closed on a red mark on Friday

The stock market closed on the red mark on Friday. The Sensex was down 154.89 points, or 0.31 percent, at 49591.32. At the same time, the Nifty was down 38.95 points, or 0.26 percent, at 14834.85.