Sensex falls nearly 900 points: 3 factors that spooked D-Street – News 24-7 Live News 24-7 Live
Sensex falls nearly 900 points: 3 factors that spooked D-Street

Sensex falls nearly 900 points: 3 factors that spooked D-Street

Benchmark market indices ended Wednesday’s trading session on a weak note. S&P BSE Sensex fell 871.13 points (1.74%) to end at 49,180.31, while NSE Nifty50 closed 265.35 (1.79%) lower at 14,549.40.

It was the worst one-day percentage fall for both benchmark exchanges since February 26. It may be noted that market benchmarks fell sharply since the beginning of today’s trading session.

There are several reasons why benchmark indices fell sharply a day after gaining in the previous session. Here are three main factors that spooked traders on Dalal Street:

SECOND COVID WAVE

A sharp rise in Covid-19 cases in the country is the main culprit behind the volatility observed in domestic markets. On Wednesday, India recorded 47,262 new Covid-19 cases in 24 hours. It is the highest daily spike in over four months.

Vinod Nair, head of research at Geojit Financial Services, said that the Indian market witnessed heavy selling due to high volatility owing to weak global cues and a spike in Covid-19 cases.

News Source : India Today

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