Highlights

  • Benchmark indices corrected 10% from highs
  • Bloodbath across the globe due to new Covid variant
  • Fresh lockdowns and travel bans

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Concerns over new virus, markets see a bloodbath

Nifty fell to 17,000 level, Sensex slumped 1,700 points.

Equities saw a sharp correction as the benchmark Nifty and Sensex plummeted 3% each on Friday. Nifty breached the 17,000 mark, however, it closed a little above that level, falling 2.9% to 17,026. A level that was last seen in August 2021. Sensex gave up 1,700 points. Here are the top developments across the globe in terms of the latest Covid situation:

  • The new variant carries an unusually large number of mutations and is “clearly very different” from previous incarnations.
  • WHO said they are monitoring a new variant and have called for a special meeting.
  • U.K. will temporarily ban flights from South Africa and five neighboring countries
  • Hong Kong has already found two cases of the new variant in visitors.
  • Indian Healthy Ministry writes to states calling for tighter screening of travellers.
  • EU cases continue to rise, reporting a million new infections about every two days and now accounting for nearly two-thirds of new infections worldwide.
  • Germany continues to see a surge reaching the grim milestone of 100,000 Covid-19 deaths. In an effort to slow the spread of the virus, authorities this week began requiring a health pass to go to work or use public transport.

Also read/watch: Centre issues alert over the new Covid-19 variant found in South Africa

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