New Covid variant concerns, global cues drag Sensex down over 1,600 pts, Nifty below 17,100

new covid variant concerns global cues drag sensex down over 1600 pts nifty below 17100

Sumary of New Covid variant concerns, global cues drag Sensex down over 1,600 pts, Nifty below 17,100:

  • It was mayhem on Dalal Street, with benchmark indices closing nearly 3 per cent lower on Friday as concerns over the new coronavirus variant spooked investors.
  • The market opened on a weak note, tracking negative cues from the Asian Markets.
  • Indices extended losses through the day witnessing across the broad selling, barring pharma and healthcare.
  • It briefly slipped below the 17,000 mark during the day, recording an intraday low of 16,985.70. It recorded an intraday high of 17,355.40.Over 2,200 stocks declineThe market breadth turned in favour of the decliners, with 2,224 stocks declining on the BSE as against 1,067 that advanced while 104 remained unchanged.
  • Furthermore, 397 stocks hit the upper circuit compared to the 178 stocks locked in the lower circuit.
  • Besides, 237 stocks touched a 52-week high level, and 34 touched a 52-week low.
  • The volatility index rose 24.84 per cent to end above 20 at 20.80, signalling increasing concerns among investors.
  • According to experts, one of the biggest concerns currently is the rising Covid situation across Europe and some Asian countries.

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