Market scared of Kovid: Sensex fell by 1800 points, investors lost Rs 7.5 lakh crore in one day

New Delhi. The fear of Kovid has once again dominated the stock market. With the arrival of information about new and dangerous variants of Kovid, there was a sharp decline in the market today. In the last trading session of the week, the Sensex fell by 1688 points at the level of 57107 and the Nifty closed at the level of 17026 with a fall of 510 points. Investors lost Rs 7.5 lakh crore during business today. In today’s trade, the Sensex has lost a maximum of 1802 points and the Nifty has lost a maximum of 550 points.

7.5 lakh crore rupees drowned by investors

After today’s sharp fall, the total market cap of all the companies listed on BSE came down to Rs 258.21 lakh crore. A day earlier it was at Rs 265.66 lakh crore. That is, due to the fear of Kovid in one day, 7.45 lakh crore rupees of investors were drowned in the market. In the stock market today, except the pharma and healthcare sector, all other sector indices fell sharply. The realty sector was the biggest loser. Today realty sector index 6.26 percent, metal sector index 5.34 percent, auto sector 4.34 percent, public sector banks index 4.21 percent, banking sector 3.58 percent. The financial services sector closed with a fall of 3.56 per cent. On the other hand, pharma and healthcare sector indices closed with gains of around 2-2 per cent.

Why did the market fall

New variants of Kovid are believed to be responsible for the decline in the market, which scientists have described as a matter of concern. At present, there is no specific information about this variant. According to initial reports, there is a possibility that the new variant found in South Africa is more dangerous than the B.1.1. Scientists have warned that it is possible that the Kovid vaccine may be ineffective on it. With the advent of new variants, many countries have also started taking tough measures. Investors fear that if the outbreak of this variant increases, then once again the lockdown may be seen. The market fears that there is no stability in the recovery in the economies of the world at present, in such a situation the recovery may be completely derailed due to the effect of the new virus. In view of the uncertainty, investors sold the market today.