In a fear of a new COVID-19 wave and multiple reports of the new super spreading new virus strain in the UK, the investment market in India painted in red.
With a whopping Rs. 6.49 crore worth of losses, Sensex took one of the worst dives and plunged to 1406.73 points yesterday. This could be roughly drawn out to a low of 3%, the biggest single-day fall since May 4th.
All the stocks on the Nifty50 led by the ONGC, Tata Motors, Gail, IOC and Hindalco ended in reds. Similarly, among the Sensex stocks, Bajaj Finance, ITC, and SBI too were down a staggering 1% and practically none of the indices were green.
The recent outburst of COVID-19 cases in the United Kingdom has been the key reason the market seems to be spooked. With travel restrictions being imposed one after the other across the globe, and parts of the UK already in lockdown, the universal economic health, which was already weak, will take another big dent.
The markets however made a comeback today morning with Sensex regaining its position by crossing the 46000 mark. HCL, ONGC and NTPC have been the biggest gainers today while only a few Sensex constituents were trading with losses which included Reliance Industries, Bajaj Finances, and a handful more.