Lockdown Concerns Drag Markets Down; Sensex Plunges More Than Three Percent

Mumbai: The rising number of Covid-19 cases and concerns of return of lockdown in many states of the country played havoc today and the Indian share markets saw a sharp decline.

The Bombay Stock Exchange index Sensex was trading at 47,970 points at 12 noon losing more than 1600 points or about 3.3 percent. The broad based Nifty also lost 490 points and was trading at 14,339 at noon with a loss of 3.3 percent. All sectors saw a decline from the morning and the down trend continued till noon. Sector wise, banking, metals, FMCG and the auto stocks lost the most while the pharmaceuticals remained static.

The decline in the indices is a direct reflection of the growing number of Covid-19 infections. India on Monday added 1,68,912 fresh Covid-19 cases – the biggest ever daily addition of cases since the beginning of the pandemic.

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