Share Market Big Fall: New Corona variant rocks the stock market; investor lose 6.55 lakh crore

There is news that a new variant of Corona has been found in South Africa and here in India the stock market has crashed. Today, the stock market is down by 1687.94 points. As a result, investors lost Rs 6.55 lakh crore in the first two hours. The Sensex's market capitalization fell from Rs 265.66 lakh crore to Rs 259.11 lakh crore.

The Sensex opened at 58,254.79 points, down 541 points today. At one point, the BSE Sensex was down over 1,400 points while Nifty50 was quoting below 17,150. The Sensex touched a low of 57,107.15 points during the day. The Nifty, on the other hand, remained the same. The Nifty, which closed at 17,536.25 on Thursday, fell by 198 points to open at 17,338.75. In subsequent trades, the decline was even greater and soon the market fell to 17,088. That means the Nifty fell more than 350 points.

The drop is said to be due to a new variant of the corona virus. Although a new variant has been found in South Africa (Coronavirus New Variant), it is said to be spreading rapidly. The shocking thing is that scientists have detected 30 mutations to the spike protein. This variant is named B.1.1.529. The new variant B.1.1529 has 3 patients in Botswana, 6 in South Africa and 1 in Hong Kong.

With the new covid variant, there is a fear of re-lockdown. In such a situation, European countries have also started increasing Covid-19 booster vaccination. In addition, strict rules are being imposed. Slovakia has also announced a two-week lockdown. The Czech Republic has decided to close the bars soon. At the same time, the death toll from the corona in Germany has risen to more than 1 million.