Sensex crashed over 2,000 points in afternoon trade today as global markets fell amid worsening coronavirus outbreak in the UK. Reimposing of lockdown in London over a new mutant strain of coronavirus sent global markets in a panic mode.
The rise in UK cases overshadowed news that US lawmakers finally set a deal on more support for American families and businesses. Sensex plunged 2,037 points to 44,923 against previous close of 46,960. Similarly, Nifty crashed 629 points to 13,131 against previous close of 13,760.
All 50 stocks fell on Nifty. Top Nifty losers were ONGC, Tata Motors, GAIL , IOC and Hindalco falling up to 9%. Bank Nifty plunged 1,513 points to 29,201 againt previous close of 30,714.
BSE bankex too saw a crash of 1,641 points to 33,553 against previous close of 35,194.
Several European countries have banned flights from the UK as the British government began emergency lockdown on Sunday, over fear of new virus strain.
Market breadth was negative with 2,434 stocks falling against 591 advancing on BSE.
Later, Sensex pared some losses and closed 1,406 points lower at 45,553. Nifty ended 432 points lower at 13,328.
Meanwhile, government has decided to cancel all flights originating from UK to India till 31 December 2020.
Considering the prevailing situation in UK. Govt. of India has decided that all flights originating from UK to India to be suspended till 31st December 2020 (23.59 hours).— MoCA_GoI (@MoCA_GoI) December 21, 2020
Germany's DAX sank 2% to 13,357.27 and the CAC 40 in Paris shed 2.6% to 5,387.12. In Britain, where a strain of the coronavirus that is thought to be more easily transmissible has been spreading, the FTSE 100 gave up 1.4% to 6,436.30.
In Hong Kong the Hang Seng declined 0.7% to 26,306.68. Australia's S&P/ASX 200 shed 0.1% to 6,669.90.