BSE,NSE slide as omicron cases increases world wide
On Monday, the first day of the trading week, Omicron varant cast dark a shadow on the stock market. There was a big drop in the market. The Nifty (NIFTY 50) index of 50 major stocks listed on the National Stock Exchange closed at 16,614, down 371 points. Mumbai Stock Market Sensitive Index BSE Sensex fell 1,189.73 points to close at 55,822. In the afternoon, there was a slight correction in the market.
Omicron’s panic was clearly visible on the investors in the stock market. As soon as the market opened, the selling phase started in the market. This morning Nifty opened at the red mark of 16,824. As soon as the market opened, it started falling. All the major stocks were in freefall. By noon, Nifty started diving at the lowest level at 16,425 at one o’clock. Although after one o’clock some correction was seen. The market turned slightly up after the plunge in the morning and the Nifty closed at the level of 16,614. The Nifty recorded a decline of 2.18 per cent or 371 points.
Big fall in Sensex
Mumbai Stock Exchange’s index BSE Sensex also opened with a fall. Sensex opened at 56,517 points. In the afternoon, the Sensex reached the lowest level of 55132. After one o’clock in the afternoon, the market improved and the Sensex closed at 55,822 level. A decline of 1,189.73 points was recorded here.
Omicron’s shadow on the market
Due to the imposition of new restrictions regarding Covid in many European countries, heavy selling is being seen from the foreign investors (FIIs). Apart from this, the market has also been affected due to tightening of policies and measures to reduce liquidity by some of the world’s major central banks.
