Sensex Crashes 900 Pts, 2nd Wave Of Covid Infection Grips World Markets

The Sensex and the Nifty fell sharply in trade, following an extremely weak handover from the US markets, which collapsed over worries of a second wave of Covid 19 infections.

The Dow Jones closed a staggering 7 per cent lower, in which a mammoth 1,800 points was lost. The S&P 500 fell nearly 6 per cent, with markets seeing their worst fall since March, 2020. Global markets fell largely on the back of a surge in infections in some states in the US, raising worries of a fresh round of Covid 19 infections.

The Sensex dropped another 2.7 per cent or nearly 900 points, while the Nifty slid 270 points in trade. This follows a near 2 per cent cut on the benchmark indices seen on Wednesday. Banking stocks fell sharply in trade with the Bank Nifty plunging a huge 4 per cent in trade. All of the banking names fell, including the likes of HDFC Bank and ICICI Bank. State Bank of India, which fell 4 per cent on Thursday, lost another 4 per cent on Friday.

Top losers from the Nifty were IndusInd Bank, Zee Entertainment , Tata Motors and ONGC. Meanwhile, most Asian markets were trading with losses, with the South Korean Kospi seeing the biggest losses of nearly 3 per cent.