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Monday Blues of Stock Market Sensex Nifty Falls Investors loose 11 lakh crore in two trading Session | Market trembled due to fear of Omicron, investors lost Rs 11 lakh crore due to fall in just 2 days

Photo: PTI

Monday Blues: Omicron feared markets shook, investors lost Rs 11 lakh crore due to fall in just 2 days

Highlights

  • Investors have sunk more than Rs 11 lakh crore in the last two sessions.
  • Infection is spreading rapidly in many countries of Europe including Britain.
  • Even before Omicron’s threat comes, the sell-off sequence in the market continues

As the new variant of Corona, Omicron, is taking over the world, the economies of the world are also worried about the return of the lockdown. The Indian stock market is also not immune from this concern. As soon as the market opened on Monday, it came on the red mark. With a sharp fall, the Sensex lost 1700 points and Nifty 550 points in a short time. Eventually the market took some recovery and the Sensex closed down 1,189.73 points.

In the last two sessions, more than Rs 11 lakh crore of investors have sunk. Today almost all the companies included in the Sensex were on the red mark. According to experts, the increasing cases of Omicron have worried investors. The infection is spreading rapidly in many countries of Europe including Britain. Omicron is spreading fast in India too.

FII selling continues

The sell-off sequence in the market is going on even before the Omicron threat comes on the stock market. FIIs have been selling heavily for the last two to three months. In November, foreign funds had sold over Rs 37,000 crore. At the same time, in December also, more than 26 thousand crores have been sold. Foreign institutional investors sold shares worth Rs 2,069.90 crore on Friday itself.

Restrictions in many countries of Europe

One of the main reasons for the fall in the stock market is bad news coming from abroad. December is usually a holiday in Europe. During this, people travel a lot during the Christmas holidays and spend a lot. But this time due to the fear of Omicron, the Netherlands has imposed a lockdown right in the middle of the festive season. The UK had already imposed travel restrictions. Countries like Germany and Austria have imposed lockdowns amid their latest Covid waves.

The danger of rising interest rates in the US and UK

Just last week, the US Federal Reserve has indicated to hike interest rates three times by the end of 2022 to fight inflation. After the Federal Reserve, now other central banks can also take a tough stand. The Bank of England on Thursday became the first major central bank to raise interest rates since the COVID-19 pandemic began. Norway raised rates for the second time this year on 16 December despite an extension of COVID restrictions, while Russia raised its policy rate for the seventh time this year on 17 December. In such a situation, the concerns of investors have increased.

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