Sensex Slumps As Asia Falls On Worries Of Second Wave Of Covid-19

Asian markets were trading lower and Dow Futures too were lower, after worries over a second round of covid-19 infections.

According to reports Wuhan reported five new confirmed Covid-19 infections on Monday, casting doubts over the complete abatement of Covid 19 cases in the city. Wuhan was where the pandemic is believed to have originated.

The Sensex was trading with losses of 405 points, while the Nifty fell 105 points in trade, as investors sold stocks on the fears of a second wave. Sentiments were also dampened after reports that Covid-19 infections in India had crossed the 70,000 mark.

Bandhan Bank shares were trading lower ahead of its quarterly numbers to be announced later today. Shares in Indian Oil gained ground after the company stated that it plans to scale up refinery operations to 80 percent of design capacity by the end of the month.

Shares in Godrej Agrovet saw a jump of 2 per cent in its shares even as net profits fell to Rs 74.58 crores versus Rs 113.69 crores. Auto stocks, which had seen a solid rally on Monday, were trading flat. Century Plywood Company saw its shares falle even after the company said it partially resumed operations at some manufacturing locations, warehouses, and offices.

Meanwhile, most Asian markets were trading with losses of near 1 per cent.