Market decline

Here are 3 major reasons for the drop in the stock market!

Today is Friday, the last trading day of this week, and today was Black Friday for Dalal Street. Indeed, the Sensex lost almost 1500 points and the Nifty fell from 424.90 points to 17,111.35 in the morning. People are shocked by the fall of the market today and are eager to know the reason behind it. Let me tell you that the new variant of corona is not only the main reason behind it, but there are two other reasons as well. Let us tell you the main reasons for the fall in the stock market.

New Covid Variant – A new variant of the corona virus Covid-19 has been discovered in South Africa, which is said to be very deadly and dangerous. Britain has canceled flights to 6 African countries. The UK Health Safety Agency (UKHSA) has declared the new corona variant B.1.1.529 as a variant under investigation. Meanwhile, the central government has issued instructions to states to strictly screen and test passengers arriving from three countries, South Africa, Botswana and Hong Kong. Due to all this, domestic markets, including the Asian market, also suffered.

Then confinement- European countries have extended suo-strict COVID-19 booster vaccination restrictions overnight. In fact, Slovakia announced a two-week lockdown. On the other hand, the Czech government will close the bar soon. At the same time, Germany crossed the threshold of 100,000 deaths from COVID-19.

FII Sales – Let me tell you that the data available with NSE indicates that Foreign Portfolio Investors (REITs) converted domestic stock sellers to Rs 2,300.65 crore. The sale also dampened investor enthusiasm.

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