As the markets opened today (December 20, 2021), stock markets crashed by over 1300 points, thereby wiping out a considerable amount of investor’s money.
What’s the reason?
Keep reading to find out more..
Omicron Scare: Stock Market Crash By 1300 Points
Due to the rising Omicron variant scare all across the world, investors have panicked, and they are selling their shares.
This is the reason Sensex crashed by 1300 points (at 11AM), and Nifty 50 index dropped below the psychological point of 16,500.
At the time of writing, Sensex was at 55,712.88, down by 2.28% (1298 points down) and Nifty was ast 16,592.95, down by 2.31%.
Asian markets as well as oil prices have also taken a hit, due to the rising concern of the Omicron variant of Covid 19 virus.
Which Stocks Are Down?
In India, stocks across several industries fell sharply: Share prices of Nifty Bank, Auto, Financial Services, FMCG, IT, PSU Bank, Private Bank, Realty and Consumer Durable fell upto 2.85% as soon as the market opened on Monday.
Nifty Midcap 100 also fell by 2.76% points, where as Nifty Smallcap 100 index dropped by over 3%.
While Bajaj Finance shares fell by 4%, share prices of top rated companies such as JSW Steel, Tata Steel, State Bank of India, Bharat Petroleum, Tata Motors, ONGC, HDFC Bank, Hero MotoCorp, Axis Bank, Tech Mahindra, NTPC, Hindalco and Bajaj Finserv fell by upto 3.6%.
We will keep you updated, as more details come in.
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