MUMBAI: Domestic stock markets witnessed a decline for the second week in a row due to uncontrolled situation due to the second wave of Covid-19 pandemic and partial or weekly lockdown in many states and the trend is likely to continue in the coming week as well.
The transition of Covid-19 in the country is spreading much faster than the first wave. More than two lakh new cases have started coming up every day. No nationwide ban has been announced by the central government yet, but many states have imposed restrictions on their behalf. Due to this economic activity is likely to be affected, due to which investors can increase selling.
Last week, on Wednesday, due to the holiday of Ambedkar Jayanti, the market was traded for four days. During this period, the BSE Sensex closed down 759.29 points, or 1.53 percent weekly fall, to close at 48,832.03 points on Friday, due to a major fall on Monday. The National Stock Exchange’s Nifty also lost 217 points, or 1.15 per cent, to 14,617.85 on the weekend.
The pressure was on the medium and small companies. The BSE midcap fell 2.91 percent to 20,157.36 points and the smallcap fell 2.68 percent to 21,018.55 points.
