- 5.53 lakh crore market cap fell in the first 60 seconds
- Shares of 28 of the 30 Sensex companies fell
The situation is deteriorating in the world with the new variant of Corona Omicron and also getting weak signals from the global markets. On Monday, the Sensex closed 1,189.73 points, or 2.09 per cent, lower at 55,822.01 on the first day of the week. The Nifty was down 371 points, or 2.18 per cent, at 16,614.20.
Three reasons for the market downturn
: Increased risk of viruses: Corona’s new variant Omicron is spreading fast. Lockdowns are being imposed considering the state of travel restrictions in view of Omicron’s risk. The Netherlands recently announced a lockdown. These circumstances have raised concerns about the impact on the global economy.
Foreign Institutional Investors Withdraw Investment
About Rs 80,000 crore has been withdrawn from the stock market by foreign institutional investors in the last 40 days. In December, FIIs withdrew Rs 26,000 crore from the cash market. This is the highest sales this year. On December 18, FII sold Rs 2,069 crore from the cash market.
Widespread Inflation Concerns
Rising inflation is also a cause for widespread concern for central banks around the world. These are just some of the goal setting shareware that you can use to raise interest rates. The US Federation is also concerned about inflation.
Sensex fell 1879.06 points to 55,132.68 at one point during the day’s turmoil in the stock market. However, the market saw a slight recovery and closed at 11,89.73 points, or 2.09 per cent, lower at 55,822.01. The Nifty also opened 160.95 points lower at 16,824.25 and at one point fell 575 points to 16,410.20. However, purchases were made in the last hour and this fell by 371 or 2.1 per cent to close at 16,614.20.
Earlier in the week, the stock market plunged by 1,800 points . Investors have lost Rs 9 lakh crore in the stock market following the decline.
With the market opening in the morning, the Sensex fell 1300 points to 55,778, while the Nifty fell 430 points to 16,554. In 60 seconds, the market cap fell by 5.53 lakh crore to 253.94 lakh crore. It was Rs 259.47 lakh crore on Friday.
- 2.50 PM: The Sensex traded down 1,320 points at 55,690.97 while the Nifty traded down 408 points at 16,576.55.
- 12.55 PM: The Sensex was down 1784 points at 55,227.18 while the Nifty was down 559 points at 16,425.55.
- 12.34 PM: Sensex was down 1565 points at 55,446.48 while Nifty was down 476 points at 16,508.85.
- At 12.00 pm, the Sensex was down 1418 points at 55,593, while the Nifty was down 426 points at 16,558.
- At 10.55 am, the Sensex was down 1277 points at 55,734.20, while the Nifty was down 396 points at 16,588.50.
- At 10.39 am, the Sensex was trading at 55,948.36 with a fall of 1063 points, while the Nifty was trading at 16,671.05 with a fall of 314 points.
30 Sensex stocks that broke most, only Sunpharma saw gains. While 29 stocks saw a big decline. Tata Steel and SBI were down 4-4%. Shares of HDFC Bank, Bajaj Fiserv, Mahindra & Mahindra, Ultratech, Axis Bank, Bajaj Finance, Airtel, Tech Mahindra fell 3-3%.