Share Market Update: Today was Black Friday for the stock market, Sensex 1700 and Nifty closed with a huge fall of 513 points

Black Friday For Stock Market: Today has proved to be Black Friday for Indian stock markets. After heavy selling by domestic foreign investors  The market has closed with a huge drop. At one point, the Sensex slipped below 57000 and 17,000, diving about 1800 and Nifty by 550 points. But at the end of today’s trading  Sensex closed 1687 points down at 57,107 and Nifty down 510 points at 17,026. 

Why the market is in despair

Both Sensex-Nifty have closed down by about 3 percent. The main reason behind this is global. Today news has come that a new variant of corona virus has appeared in South Africa. After which there has been panic in the stock markets around the world. Citizens who arrived in Botswana and Hong Kong from South Africa have also found symptoms similar to the infection of this new variant. For this reason, except the pharma sector in the domestic market, all the sectors have closed in the red mark. But after the news of the new variant of Corona increased, panic increased in the market.

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