The Indian stock market plunged on Monday morning due to the rising number of Covid cases across the country, with the BSE Sensex falling over 1,400 points. It touched an intraday low of 47,362.71 as of 12:30 pm.

sensex

Around 10.10 a.m., Sensex was trading at 47,561.41, lower by 1,270.62 points or 2.60 per cent from its previous close of 48,832.03.It opened at 47,940.81 at the intraday high of 47,940.81 points. The Nifty50 on the National Stock Exchange was trading at 14,275.85, lower by 342.00 points or 2.34 per cent from its previous close.

Selloff was witnessed in across sectors during the initial trade led by banking and financial stocks.

Sitharaman assures business leaders

Finance Minister Nirmala Sitharaman on Monday said that the Centre is working together with states to protect lives and livelihoods. In a tweet, the Minister said that she has spoken to business leaders and took their view on industry-related matters.

"Spoke on telephone with each of the following business/Chamber leaders. Took their inputs on industry/Association related matters. Informed them that GoI at various levels from @PMOIndia is responding to #Covid management. Working together with states for lives and livelihoods," she said.

The statement comes at a time when India has been reported highest single-day spike in fresh Covid cases every other day and cities and states are going back to curfews and lockdowns. India has reported 2,73,810 fresh Covid cases in the last 24 hours, and the fifth consecutive day that the country has registered over two lakh Covid cases taking the total tally to 1,50,61,919 cases.

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