HMPV Virus Impact on Market: There was a sharp decline in Sensex and Nifty on the first day of the trading week. Sensex fell by more than 1000 points while Nifty saw a fall of more than 300 points. Describing the important reasons for today’s decline, CNBC-Awaaz Managing Editor Anuj Singhal said that the reason for today’s decline is to some extent the first case of HMPV virus being found in Bangalore. Although this virus is not new to India. Earlier too, such cases were seen in the winter season, but this time due to its China connection, there is concern in the market. For investors and traders, the memories of Corona have not gone yet, hence people even drink the burnt whey of milk, hence a decline is being seen in the market.
Citing the second important reason for today’s decline in the market, Anuj said that the third quarter updates of banks appeared weak. This is also one of the reasons why there is a decline in the market today.
Rupee becomes weak, slips below 80.80/$
Today, weakness has been seen in the rupee also. The rupee has again seen a decline. He said that we are rapidly moving towards the level of 81 against the dollar. That is also being considered a factor in the decline in the market.
Nifty broke important technical levels
Apart from this, both Nifty and Bank Nifty have broken their important technical levels. Bank Nifty has also broken the level of 200 moving average. We are trading almost below that level in Nifty. This is also an important factor due to which there is a decline in the market.
FIIs returned from vacation, selling increased again as soon as they returned
The most important factor is the return of FIIs from leave. We were already saying that the market movement will be clearly visible on January 6 when FIIs will return from vacation and they will be seen doing their business in the market with full volume. But FIIs have sold as soon as they entered the market today.
He said that the way heavyweight shares like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Asian Paints have fallen today, it seems that FIIs must have sold in the market.
These are four-five important reasons due to which the market is falling but HMPV virus is definitely a very important reason whose effect is visible on the market today. However, the Health Minister has said that there is no need to worry about this. This virus has been found in our country before also, but the saying that one drinks burnt buttermilk in the market is coming true.
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