Sensex falls over 900 points, Nifty falls below 17300

The stock market started with a sharp decline today and the Sensex started trading at 58,022.17, down 722.92 points or 1.31 percent. The midcap index saw a fall of 400 points in early trade. Nifty started trading with a fall of 192-193 points and all 50 stocks were seen trading with a fall. At 9:23 am Nifty was trading at 17293 and at the same time it showed a fall of 240 points.

Today the market saw sharp weakness in the pre-opening and the Sensex broke more than 500 points. At 9:13 am, the Sensex was down 540.3 points or 0.92 per cent at 58,254.79. Bluechip stocks in the Teva market also declined. BSE’s major Sensex benchmark broke at 1048 points at 10 am. The NACE benchmark fell 316 points to 17,220.

The new corona variant found in Africa has created a wave of concern around the world. Flights from Africa have been banned by British authorities, causing panic in the stock market. Scientists say that the virus can easily defeat the human immune system and that the vaccine may be ineffective.

The weak trading in Asian markets is also affecting the country’s stock market. In Asian markets, Japan’s Nikkei, Singapore’s Strait Times, Hong Kong’s Hang Seng and Taiwan’s market are all trading with a decline. Its effect has also been seen in the domestic market.

Only pharma index is working in green zone

Today only pharma index saw a rise in the market and 15 out of 20 stocks of pharma index saw a rise. The biggest gain in pharma stocks was seen in Apollo Hospitals. Out of 20 only 5 pharma stocks saw a fall, market experts expect a rise in chemical stocks near pharma today. Today, Cadila Healthcare traded with a gain of 2.3 percent in the falling market and investors are showing good interest.

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