Sensex plunges 883 pts as Covid woes resurface

Mumbai, April 19

The Sensex plunged 883 points while the Nifty crashed below the 14,400-level on Monday as the worsening Covid situation in the country triggered an across-the-board selloff.

Fresh lockdowns announced by some states have stoked concerns over the economic recovery, while another sharp drop in the rupee also weighed on risk appetite, traders said.

Investors lose Rs3.53 lakh crore

• Investor wealth tumbled by Rs3.53 lakh crore on Monday, with the market capitalisation of BSE-listed companies standing at Rs201.77 lakh crore

After crashing over 1,469 points in early trade, the Sensex pared some initial losses to close at 47,949.42, down 882.61 points or 1.81%. Similarly, the Nifty tanked 258.40 points to finish at 14,359.45.

"Domestic equities, which were looking resilient for the past couple of days, fell sharply on sharp spike in Covid cases across the country and enhanced economic restrictions imposed by several states. Announcements of wider mobility restriction by Rajasthan and Delhi governments dented investors' sentiments," said Binod Modi, Head Strategy at Reliance Securities. — PTI

Join Whatsapp Channel of The Tribune for latest updates.