Stock Market on Decline After New COVID Strain Makes "Headline"

NEW DELHI: With the outbreak of the new COVID-19 strain, the money market was the first to react to the virus.

Going by the Asia Pacific stocks- were mostly down on Friday morning, ending the week on a down note over the discovery of a new coronavirus strain.

On the other hand, the stock market in India witnessed a shocking behavior as benchmark indices at BSE and NSE fell sharply by over 2.9 per cent on Friday ending the week on a down note over the discovery of a new coronavirus strain.

While the Sensex fell over 1,688 points to close at 57,107, the broader Nifty lost 509.8 points to close at 17,026 on Friday. This was the second time this week that the premier indices have lost nearly two per cent.

This week itself Sensex has lost around 2,529 points or 4.2 per cent and since its highs on October 19, 2021 it is down 5,138 points or 8.2 per cent.

While there are number of factors to be established with it, the primary reason may be the rising number of COVID cases in Europe which is again impacting on its economic recoveries. On than than with a fresh concern of the new COVID variant stain in South Africa making headlines along with India's rising worries.

Meanwhile, after 13 students were detected with norovirus in Kerala's Wayanad, the health and family welfare department in Karnataka issued a high alert in Kodagu and Dakshina Kannada districts bordering the state.

On Tuesday 23 November, a circular has been released where Karnataka Health Minister stated the guidelines to be followed to prevent such an infectious disease.

Karnataka Joint Director in Communicable Diseases informed that people must be aware and keep their eyes open in protecting themselves also the state from Norovirus.

Also Read: Norovirus Confirmed in Kerala: Symptoms, Treatment and All You Need to Know

Also Watch: