Share Market News: The fear of a third wave of the Corona epidemic has grown in the wake of increasing Omicron incidents. The market fell upside down as soon as it opened on Monday. A one percent loss was seen in both the Sensex and Nifty in early trade.
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Both Sensex and Nifty remain near the red marks from the pre-open session. The Omicron pressure dominates the market. After the opening, Sensex was trading around 56,650 points, down one percent. Nifty was also down about one percent below 16,850.
During trading, the market made a comeback to some extent. By 11 o’clock in the afternoon, the Sensex had declined by about 70 points and the Nifty by about 30 points. Tech companies remain bullish, which has curbed the decline in the market to some extent. At 12 o’clock, the market returned to its green mark. The Sensex was up by about 100 points and the Nifty was trading beyond 17,000.
Over the past few years, Omicron cases have increased exponentially around the world. In view of this, many states have one after another returned to the path of restrictions. In many countries, Omicron cases exceed Delta cases. Investor sentiment has been affected as a result. A majority of Asian markets are in decline today.
The Sensex fell 190.97 points (0.33 per cent) to 57,124.31 on Friday, while the NSE Nifty fell 68.85 points (0.40 per cent) to 17,003.75. Last week, the market was bullish on three out of five days. The week started with a big fall on Monday, when many indices dropped by over two percent. There was a bullish phase in the market for three consecutive days after that, but it was controlled on the last day.
Over the weekend in China, the new cases of Covid-19 saw such a rapid increase after 21 months. Chinese city Xian is the new hotspot of Covid. In trading on Monday, Japan’s Nikkei fell 0.20 percent and South Korea’s Kospi declined 0.11 percent. The Shanghai Composite declined up to 0.40 percent during trading. Monday was a holiday for Hang Seng in Hong Kong.
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