Stock Market Update News Today: Today Will discuss the Stock Market Update in this Article. The Omicron‘s dark shadow hung over the stock market on Monday, the first day of trading. There was a big drop in the stock market. On the National Stock Exchange, the Nifty (NIFTY 50) index of 50 major stocks closed at 16,614, down 371 points. Mumbai Stock Market Sensitive Index BSE Sensex closed 1,189.73 points lower at 55,822. The market corrected in the afternoon.
A stock market investor could clearly see Micron’s panic. Immediately after the market opened, the selling began. Nifty closed at 16,824, a mark below the red line. The market fell immediately after opening. People were upset. One o’clock in the afternoon, Nifty plunged to 16,425 at its lowest level. However, after one o’clock, there was a slight correction. The Nifty closed at 16,614 due to a tired move, which led to a slight rise in the market. There was a decline of 2.18 percent or 371 points for the Nifty.
Big fall in Sensex
BSE Sensex, the Mumbai Stock Exchange’s index, also opened lower. At 5,6517 points, the Sensex started the day lower. The Sensex reached its lowest level of 55132 in the afternoon. Sensex closed at 55,822 at one o’clock in the afternoon after the market improved. The Sensex dropped 1,189.73 points.
Omicron Threat Intensifies
Among the most important factors contributing to today’s stock market crash is the rapid spread of the Omicron variant of Coronavirus. As it became the dominant strain in South Africa, it is spreading across many European countries like wildfire.
Global stock markets have suffered due to the rapid spread of the virus, threatening global economic recovery. In several nations, restrictions are being reintroduced to limit the spread of the new Omicron variant; some nations like the Netherlands have already imposed fresh restrictions.
Stock market shocked by Omicron
Over 150 cases of Omicron have been reported in the country. Meanwhile, the situation in many countries has deteriorated even further. Omicron has become a topic of uncertainty around the globe. There have been 12 deaths associated with Omicron variants so far in the UK. Furthermore, a study in the UK concluded that there is no evidence that Omicron is less diverse than Delta. In the domestic market, there were declines in shares of cinema halls, tours and travels, banks, NBFCs, and hotels on Monday, December 20. In addition, experts attribute the big drop in the stock market to Omicron.