New Covid variant spooks markets; Sensex ends 1,688-pts lower at 57,107
Fears that a new strain could fuel outbreaks in many countries, straining health systems, potentially evading vaccines and complicating efforts to reopen economies and borders, sent a wave of risk aversion across global markets Friday.
Falling in-line with all global peers, the BSE Sensex plunged 1,688 points, or 2.9 per cent, to end today’s bloodbath at 57,107 levels. The index hit a high and low of 58,255 and 56,994, respectively.
The Nifty50, too, erased 510 points, or 2.9 per cent, to close at 17,026. During the day, the index slipped below the 17,000-mark (at 16,986), a first since August this year.
The stocks witnessed their biggest intra-day fall since April 12, 2021, and also their biggest weekly fall since January 29, 2021.
The meltdown was equally bad in the broader markets, where the BSE MidCap and SmallCap indices fell 3.2 per cent and 2.6 per cent, respectively.