Markets crash as rising Covid-19 cases threaten economic recovery

At today's closing, Sensex was down 1,707.94 (3.44 per cent) at 47,883.38, while Nifty fell 524.05 (3.53 per cent) to 14,310.80. The two indexes have now retreated 7 per cent-8 per cent each from their mid-February record highs.

Domestic markets crashed on Monday with benchmark indices S&P BSE Sensex and NSE Nifty 50 plunging sharply in view of rising Covid-19 cases in the country. At today's closing, Sensex was down 1,707.94 (3.44 per cent) at 47,883.38, while Nifty fell 524.05 (3.53 per cent) to 14,310.80. The two indexes have now retreated 7 per cent-8 per cent each from their mid-February record highs. Domestic shares may witness weakness throughout the week as India continues to break all records in terms of daily cases. On Monday, India reported over 1.6 lakh Covid-19 cases.