Markets slide on fresh COVID wave concerns
NEW DELHI: Indian benchmark indices fell sharply on Monday after Asian peers faced massive selling pressure on account of rising COVID-19 cases in the region.
Domestic market is also impacted due to early signs of a possible third wave in the United States and the United Kingdom that may very well delay global economic recovery.
BSE Sensex tumbled 587 points on Monday to close at 52,553 while the Nifty50 fell 171 points to close at 15,752. Domestic market may remain turbulent on Tuesday after Dow plunged over 900 points as virus surge in the US escalate recovery fears.
Country’s largest private lender HDFC Bank was the top laggard in the Sensex pack, falling 3.34% after it reported lower than expected quarterly profit (Q1FY22) on Saturday. Other big losers on Monday were IndusInd Bank, HDFC Ltd, Axis Bank, Bajaj Finance and Kotak Bank.