Sunday, April 18, 2021

Fourth daily losses

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The Sensex lost heavily again by 740 points

MUMBAI: Domestic stock markets lost ground for the fourth day in a row. Suffered heavy losses as on Wednesday. The Sensex fell 740.19 points, or 1.51 per cent, to close at 48,440.12. The Nifty was down 224.50 points, or 1.54 per cent, at 14,324.90. The impact of the rising corona cases is visible in the stock market. 26 stocks in the BSE Sensex ended with a red mark. Dr Reddy’s, HDFC, ICICI Bank and L&T gained on the BSE Sensex.

Elsewhere, IndusInd Bank, ITC, SBI, HDFC Bank, Kotak Bank, Infosys, TCS, Nestle India and Sun Pharma lost ground. On Wednesday, the Sensex fell 871.13 points to close at 49,180.31 points. Reliance Securities Strategy-Head Vinod Modi said the rise in corona virus cases in the country was a growing concern among investors with a weak trend in global markets. This led to a huge fall in the local stock markets.

Four reasons for the collapse
Investors are worried about the rise in corona cases in the country.
Large sales in the global market are also affected. Other markets around the world fell 2 percent due to heavy selling in the U.S. stock markets.
Banking, financial, metal and auto stocks, the major sectors in the market, are under selling pressure.
Increased geopolitical tensions have also affected the market. The conflict between the United States and South Korea is deepening.

Sensex drops 740 points on rising Covid cases

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