Mumbai : The Benchmark BSE Sensex came down 1407 points or 3 per cent to close at around 45,554 on Monday, while Nifty fell 432 points or 3.14 per cent to 13,328.
Experts say that there could be a correction of 5 per cent in the wake of a new strain of
Coronavirus in UK. The belief that the new string of Coronavirus is more deadly than the existing one dampened that spirits of the investors globally and this affected the domestic markets in India as well.
All stocks in the Sensex pack ended in the red with ONGC falling the most to 9.15 per cent, IndusInd Bank, Mahindra & Mahindra, SBI and NTPC also going down by above 5 per cent.
However, experts were of the view that foreign institutional investors could be moderate due to Christmas and New Year holidays.
Overseas investors have put in more than Rs one lakh crore in the domestic equity market since November in the wake of better economic recovery around the world in the post Covid scenario and better Investor sentiments riding on the back of effective and early vaccine results.
Overall, investors in Mumbai Stock exchanges witnessed wealth erosion of Rs 7 lakh crore on Monday and most of the traders booked profits amidst weak global cues and concerns over a new type of Coronavirus that erupted in U.K which is believed to be more deadly than the existing one.
As many as 473 stocks hit their lowest circuit on the BSE. These included Prozone Intu, SpiceJet, Graphite India, Vipul, Tata Steel PP and Hindustan Copper among others.
Top 5 losers including Reliance Industries lost wealth of around 1.95 lakh crore. Reliance shares fell 2.92 per cent to Rs 1934 level on Monday. The other losers were ICICI Bank, HDFC, HDFC Bank and ITC.
A total of 105 stocks on NSE scaled their 52-week high during the day.
