Sensex, Nifty Down Nearly 2% As Rising COVID-19 Cases Spook Global Markets

Domestic stock markets registered sharp losses in early trade on Friday amid rising cases of the COVID-19 disease, as global equities tumbled over growing concerns that a resurgence of infections could stunt the pace of reopening economies. The S&P BSE Sensex index fell as much as 3.55 per cent – or 1,190.27 points – to hit 32,348.10, having started the session down 1,101.68 points at 32,436.69. The broader NSE Nifty 50 benchmark dropped to as low as 9,544.35, after opening down 3 per cent at 9,544.95. A selloff across sectors – led by financial stocks, especially state-run banks – weighed on the benchmark indices.


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