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Sensex tanks over 800 points, Nifty below 13,500-mark
Sensex fell below over 1,500 point on Monday just before the closing, tracking weak cues from global markets amid concerns over a new strain of the virus leading to fresh restrictions in European countries. The Nifty too slipped below 13,450-mark.
Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,720.95 crore on a net basis on Friday, according to provisional exchange data.
According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, a new and faster-transmitting strain of the virus in the UK is an area of concern. Acceleration in the number of cases in the US and poor economic data are other dampeners. A number of European countries have banned flights from the UK as the British government warned that the potent new strain of the virus was “out of control” and imposed a stringent new stay-at-home lockdown from Sunday.
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