In the first hour of business, investors have sunk Rs 6.41 lakh crore.
Sensex falls by more than 1300 points.
The stock market has fallen drastically on the first day of the week amid rising cases of corona. The Sensex opened 635 points this morning at the level of 48956. At the same time, the Nifty opened with a loss of 190 points at 14644. Fearing a lockdown, investors have started withdrawing money from the market, due to which all stocks are seeing a decline. At 10.25 in the morning, the Sensex was trading at 4,8251 points, down by 1340 points (-2.70%) and the Nifty was down by 402 points (-2.71%) at 14432 points.
Due to this decline in the market, millions of crores of investors have been drowned. When the market closed last week, the market cap of all the BSE listed companies was Rs 209.63 lakh crore. At this time it has come down to 203.22 lakh crore rupees. In this way, 6.41 lakh crore rupees of investors have been drowned in the last hour. In the top-30 of the Sensex, 28 stocks are trading in the red mark. Only Dr. Reddy and Sun Pharma are seeing a spurt in stocks. IndusInd Bank, Bajaj Finance and SBI were the biggest losers.
Fear of lockdown again
Actually, the speed of the new web of Corono is faster than the old one. Section-144 and night curfew have been announced in many states and cities of the country. Amid growing cases, once again the fear of lockdown has started. Maharashtra is currently the most affected by Corona. According to media reports, on Wednesday, CM Uddhav Thackeray will hold a cabinet meeting in which a decision will be taken to impose lockdown to control the corona.
Second Web of Corona more dangerous than expected
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, told news agency PTI that the second web expectation of Corona is more dangerous. In such a situation, it is difficult to make a correct assessment about how bad its impact will be on the economy. This is the reason why investors are selling out of panic.
Also read, submit a premium of Rs 800 in this popular policy of LIC, you will get a benefit of 5.25 lakhs on maturity
Also read, good news for more than one lakh employees of LIC, may increase salary by up to 20%
