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Stock Market Bleeds with Increasing Corona Cases

Sensex Down

The stock market opened on the red mark on the third trading day of the week amid the rising cases of Corona in the country. At 3.08 pm, the Bombay Stock Exchange’s flagship index Sensex was down by 908.72 points (1.82 per cent) to 49,142.72. On the other hand, the Nifty of the National Stock Exchange was trading at the level of 14,548.60, down by 266.15 points, or 1.80 per cent. After 50 days, the Sensex touched the 49200 level during trading today.

In fact, investors are worried about the corona virus havoc across the country. The corona infection is once again uncontrollable after coming under control. In many states including Maharashtra, Gujarat and Madhya Pradesh, the situation is getting frightening, the situation has become like lockdown again. Today, more than 47 thousand new corona patients have been found in the country. Out of these, 77.44 percent patients have come from these five states of the country – Maharashtra, Punjab, Karnataka, Chhattisgarh and Gujarat. Maharashtra recorded the highest number of 28,699 new Kovid cases on Wednesday.

Talking about global markets, Hong Kong’s Hangseng index slipped 595 points, or 2.09 percent, to 27,902. The Shanghai Composite of China is trading 38 points down at 3,373. Japan’s Nikkei index is trading at 28,452, falling 543 points. Korea’s Cospi index declined by 18 points, while Australia’s All Ordinaries rose by 25 points. Investors sold on the US stock markets looking at new tax and infra spending prospects. The Nasdaq index was up 1.12 percent at 13,277 points.

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