Mumbai: A New type NS COVID-19 Virus, first detected in Botswana that could potentially resist available vaccines, pushed globally investors On the back foot, which in turn led to a sell-off in riskier assets. As a result, Dalal Street investors also pressed the panic button, causing the market to fall by 1,688 points. Sensex – the biggest single-session loss in seven months – which closed at 57,107. in late trades for a while, index It had even entered the sub-57k mark, its first foray into that area in almost three months.
Friday’s 2.9% fall in the Sensex was also driven by the recent weakness seen in global markets. A new concern has arisen for investors globally after the US announced that retail inflation in the world’s largest economy will be at a 30-year high for the past few days. It also prompted investors to speculate that the US Federal Reserve, its central bank, may go for a rate hike as early as 2022, a move far ahead of the move anticipated in the second half of the year.
Friday’s 2.9% fall in the Sensex was also driven by the recent weakness seen in global markets. A new concern has arisen for investors globally after the US announced that retail inflation in the world’s largest economy will be at a 30-year high for the past few days. It also prompted investors to speculate that the US Federal Reserve, its central bank, may go for a rate hike as early as 2022, a move far ahead of the move anticipated in the second half of the year.
Investors in India are also cautious as wholesale inflation is now hovering in the double-digit region for the seventh consecutive month.
According to Joseph Thomas, Head of Research, Emkay Wealth Management, Friday’s move in the domestic market has been synchronous with movements in other Asian markets, and Europe started shortly thereafter.
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