On Friday there was a blood bath in Several Stock Markets as Equity indices fell over 3% on Friday, with the benchmark dropping more than 1,650 points as news of a new Covid version rattled investor confidence. The 30-share BSE index fell 1,688 points, or 2.87 percent, to 57,107, while the wider index
The NSE Nifty ended the day 510 points, or 2.91 percent lower, at 17,026.
IndusInd Bank was the biggest loser in the Sensex group, falling as high as 6.01 percent, followed by Maruti, Tata Steel, NTPC, Bajaj Finance, and HDFC.
Nifty Realty, Metal, PSU Bank, and Auto sub-indices on the NSE plummeted as high as 6.26 percent.
The most potential Reasons for the crash are:
- New Covid variant
- Negative global market trends
- Foreign fund withdrawals for the seventh consecutive day.
- Concerns about rising inflation