New Delhi:
The stock market started on a weak note on Wednesday. The Sensex opened at 58,122 points, slightly above the previous close. But in a short time, it has rolled over 200 points.
Only 1 dozen stocks including NTPC, Powergrid were above the green mark till this report was written. The Nifty 50 is also flat open. But with the increase in turnover, it also declined by more than 50 points. It was trading at 17,268 points. The brokerage house has said that there is an atmosphere of apprehension in the markets regarding the new variant of Covid-19. This situation is on a global level.
Earlier in the day, the stock markets continued to decline for the third consecutive trading session on Tuesday and the Sensex closed with a loss of 166 points. Amid the negative trend in global markets, Reliance Industries, ITC and Kotak Bank, which have strong holdings in the index, declined.
The 30-share BSE Sensex fell by 166.33 points, or 0.29 per cent, to close at 58,117.09 points. Similarly, the wide-based National Stock Exchange Nifty fell 43.35 points, or 0.25 per cent, to close at 17,324.90 points.
ITC was the biggest loser with Sensex falling nearly 3 per cent. Apart from this, Bajaj Finance, Kotak Bank, Bharti Airtel and Reliance Industries also declined. On the other hand, profitable stocks include Power Grid, Axis Bank, Nestle India and Dr. Reddy’s included.
Likhita Chepa, a senior research analyst at Capitalwaya Global Research, said the negative sentiment in other Asian markets had an impact on the domestic market. Investors are a little worried about the World Health Organization’s statement about the new version of the Covid-19 Amicron and the Federal Reserve’s meeting this week.
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