New Covid-19 Strains Tumbles the Investors' Wealth
Equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points to close at 45,533.96. The benchmark high hit 47,055.69 during the session.
"Brutal bloodbath witnessed in today's session after a new coronavirus strain was found in Britain. Market extended losses in late afternoon session, tracking sell-off in the European markets amid concern of fresh traveling lockdown restrictions across countries."
"Uncertainties over the Brexit deal also dented the investors' sentiments," said, Sumit Bagadia, executive director, Choice Broking.
"Concern of new COVID-19 strains in the UK and emerging doubts over efficacy of Covid-19 vaccination dented investors' sentiments globally."
Indian markets were the worst performer today...profit-booking could also be a key reason as domestic equities have outperformed global markets by a wide margin in recent months," said Binod Modi, Head Strategy at Reliance Securities.
At BSE, 2,433 companies declined while 592 advanced while 167 remained unchanged.