Stock market ruckus: Sensex fell 1687 points, Nifty fell 500 points to 17000

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Stock Market Closed: The effect of weak global cues and the rising outbreak of new forms of corona found in South Africa was clearly visible on the stock market and the Sensex and Nifty closed with a huge fall. At the end of trading, the Sensex closed down 1687 points, while the Nifty lost 509 points.

The stock markets closed with a sharp fall on the last day of the trading week amid weak global cues and the rising outbreak of a new form of corona found in South Africa. At the end of trading, the Sensex closed at 57,107.15, down 1687.94 points or 2.87 percent, while the NSE Nifty lost 509.80 points or 2.91 percent to close at 17026.45.

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The downward trend continued throughout the day
Looking at the day's trading, there was a sharp decline in both indices shortly after starting trading on the red mark. By 10.35 in the morning, the Sensex had gone down by more than 1,300 points, while the Nifty lost 400 points. After this, till 11 am, the Sensex slipped 1460 points to reach a low level.

BSE Sensex opened after breaking 800 points
The stock market started very badly on Friday, the last trading day of the week. BSE's Sensex and NSE's Nifty were both open on the red mark. On the trading day, Sensex lost 815.71 points or 1.39 percent and opened below 58 thousand. It started at the level of 57979.38. Whereas NSE's Nifty started trading at 17296.65 with a loss of 239.60 points or 1.37 percent.

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The market was closed with an increase on Thursday
After a weak start on Thursday, the 30-share Sensex of the Bombay Stock Exchange finally closed at 58795.09, up 454.10 points or 0.78 percent, after the day was volatile. At the same time, Nifty also closed at 17536.25 with a jump of 121.20 points or 0.70 percent.

Corona raised concerns of investors
Investors' concerns also increased after the dangerous variant of Corona was found in South Africa. Scientists warned that the new variant B.1.1529 is even more dangerous than Delta and more than 30 new cases have been found in South Africa. This could be a major setback for global recovery.

Effect visible in foreign markets as well
If we talk about the effect of the new variant of Kovid-19, then its effect is visible in the foreign markets as well. Tokyo's Nikkei 225 fell three percent and Hong Kong's Hang Seng fell 2.1 percent. The Indian government has also directed states to strictly screen and test travelers arriving from South Africa, Botswana, and Hong Kong. Due to this reason, earthquake is also being seen in the domestic market.