Amid high volatility, equity markets declined by more than 1.5% on Thursday as a growing number of COVID-19 cases raised concerns about economic revival. The index fell for the second consecutive season.
The S&P BSE Sensex lost 740 points, or 1.51%, to close at 48,440, with broad selling pressure.
The NSE Nifty 50 index also fell 224.50 points or 1.54% to 14,325 points.
Analysts said the rising rate of infection in the country and the world has led to more pessimism in the market which only worsened with the monthly expiry on Thursday.
Vinod Nair, head of research, Geojit Financial Services, said, “After the Stellar rally, the market was at a consolidation level during the last one month, which adds to the sudden increase in transition.
“The economic decline in India is likely to be marginal due to the decrease in world GDP growth. He said that the market could accelerate due to the decline in the rate of infection through strict restrictions and speed in vaccination.
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