The country’s second phase of Covid expansion threat has hit the stock market. The stock started the day with a loss of around 300 points, but by 11 a.m., the loss was over a thousand points. The indices lost more than two and a half per cent. The Sensex was down 1240 points at 48,776 and the Nifty was down 348 points at 14,518. On Sunday, 1.03 lakh new Covid cases were reported. All the indices except Nifty IT are losing ground. The Nifty Bank and Nifty Financial Services indices lost more than 3%. The BSE mid-cap index was down 1.4 per cent and the small-cap index was down 1.3 per cent.
Other gainers included Infosys, HCL Tech and TCS. Tech Mahindra, Bharti Airtel, Nestle, Hindustan Unilever, Powergrid Corp, Titan, Asian Paint House, NTPC, Reliance, Maruti Suzuki, Sun Pharma and ITC were among the losers. Although global markets were gaining, the expansion of Covid affected the indices. Upcoming corporate operations and the RBI’s loan announcement will determine the market in the coming days besides Covid.