NEW DELHI: Stock indices fell sharply on Monday and the benchmark BSE sensex index plunged more than 1,400 points amid concerns about a new Covid-19 strain. The 30-share BSE Index plunged 1,407 points or 3 percent to 45,554; while the broader NSE Nifty 432 points or 3.14 percent to close at 13,328.
The main laggards in the BSE package included ONGC, IndusInd Bank, Mahindra & Mahindra, SBI, NTPC, ITC, Axis Bank and PowerGrid with their shares falling as much as 9.15%.
On the NSE platform, all sub-indices finished in the red Nifty PSU Bank and Media with a drop of up to 6.93%.
A new strain of the virus spreading faster in the UK is cause for concern. The acceleration in the number of cases in the United States and poor economic data are other dampening factors, VK Vijayakumar, chief investment strategist at Geojit Financial Services told the PTI news agency.
The government has decided to suspend all flights to and from the UK between December 23 and December 31 amid fears of a new, more infectious coronavirus variant found in Britain.
India has joined a growing list of countries such as Canada, Germany, France, the Netherlands, Belgium, Denmark and Italy that have temporarily halted flights to the UK.
Countries around the world have started banning flights and travelers from Britain, as London said the spread of a new, more infectious coronavirus strain was “out of control”.
On December 19, British Prime Minister Boris Johnson announced that the newly identified virus strain could be up to 70% more transmittable.
According to British Health Secretary Matt Hancock, the new variant was “out of control”.
Meanwhile, on the domestic front, foreign portfolio investors (FPIs) were net buyers in the capital market, as they bought shares worth Rs 2,720.95 crore on a net basis on Friday, according to interim data from the exchange.
(With inputs from agencies)
The main laggards in the BSE package included ONGC, IndusInd Bank, Mahindra & Mahindra, SBI, NTPC, ITC, Axis Bank and PowerGrid with their shares falling as much as 9.15%.
On the NSE platform, all sub-indices finished in the red Nifty PSU Bank and Media with a drop of up to 6.93%.
A new strain of the virus spreading faster in the UK is cause for concern. The acceleration in the number of cases in the United States and poor economic data are other dampening factors, VK Vijayakumar, chief investment strategist at Geojit Financial Services told the PTI news agency.
The government has decided to suspend all flights to and from the UK between December 23 and December 31 amid fears of a new, more infectious coronavirus variant found in Britain.
India has joined a growing list of countries such as Canada, Germany, France, the Netherlands, Belgium, Denmark and Italy that have temporarily halted flights to the UK.
Countries around the world have started banning flights and travelers from Britain, as London said the spread of a new, more infectious coronavirus strain was “out of control”.
On December 19, British Prime Minister Boris Johnson announced that the newly identified virus strain could be up to 70% more transmittable.
According to British Health Secretary Matt Hancock, the new variant was “out of control”.
Meanwhile, on the domestic front, foreign portfolio investors (FPIs) were net buyers in the capital market, as they bought shares worth Rs 2,720.95 crore on a net basis on Friday, according to interim data from the exchange.
(With inputs from agencies)
.
