Covid surge, lockdown worry spook markets

Mumbai, April 12

The Sensex plummeted 1,708 points while the Nifty crashed below the 14,350-level on Monday as investors pressed the panic button amid the massive second wave of Covid infections across the country.

The second wave is turning out to be much worse than expected, and participants are now reassessing their recovery forecasts amid increasing localised lockdowns, traders said. An unabated fall in the rupee sapped confidence further, they added.

Investors lose Rs8.77 lakh cr

Posting its biggest fall since February 26, the BSE Sensex sank 1,707.94 points or 3.44% to end at 47,883.38.

Similarly, the NSE Nifty plunged 524.05 points or 3.53% to finish at 14,310.80. Barring Dr Reddy’s, which climbed 4.83%, all Sensex stocks closed in the red.

IndusInd Bank was the top loser, tanking 8.60%, followed by Bajaj Finance, SBI, ONGC, Titan, M&M, Axis Bank, ICICI Bank and Bajaj Finserv. — PTI

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