Sensex Sheds Over 400 Points On Escalating Covid Cases

Asian markets rose in Thursday's morning trade following an overnight bounce on Wall Street. The Nikkei 225 jumped 1.2 per cent and South Korea's Kospi advanced 0.41 per cent.

The domestic stock markets have opened in the r:ed, extending their recent losses, due to escalating cases of Covid infections in the second wave. At 9:30 am, the BSE Sensex was at 47,252.55, weaker by 459.50 points or 0.97 per cent and the NSE Nifty was at 14,176.25, down 117.45 points or 0.85 per cent. Asian markets rose in Thursday's morning trade following an overnight bounce on Wall Street. The Nikkei 225 jumped 1.2 per cent in early trade, Topix index gained 1.13 per cent and South Korea's Kospi advanced 0.41 per cent. Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc's sell-off after its disappointing results a day earlier. The Dow Jones rose 0.93 per cent, Nasdaq Composite added 1.19 per cent to 13,950.22 and the S&P 500 gained 0.93 per cent. Meanwhile, oil prices continued to be weighed down by rising Covid-19 cases in Asia. U.S. crude fell 2.49 per cent to $61.11 per barrel and brent was at $65.07, down 2.25 per cent on the day.