The 2nd biggest fall since February, Sensex dropped over 1800 points

The BSE-Sensex witnessed the second biggest fall since February’2021 as it is dropped over 1800 points in a sing-day fall amid the fear of Omicron variant, coupled with selling by the FIIs and weaker global signals.

The Sensex had shed 1939.32 points last year on February 26, 2021, making it the biggest fall so far this year, showed BSE data. The Sensex on Monday corrected over 1800 points from its previous close of 57,011.74 to touch the day’s low of 55,132.68.

8 Months back in April 2021 the Sensex tanked 1707.94points. Recently in November, the index also tanked by 1687.94 points and 1170 points in one of the biggest falls of 2021.

For now, Investors lost a huge amount of money worth Rs 11.23 lakh crore. Nifty also witnessed one of the worst falls in the few last months as the index declined by over 550 points to hit day’s low of 16,410.20.

As the market observed one of the biggest falls in almost in one year, investors became poorer by  loosing Rs 11,23,010.78 crore in two days amid multiple factors. The market capitalisation of BSE-listed companies plummeted Rs 11,23,010.78 crore to Rs 2,52,79,340.30 crore in just two days.

Technically, 16700-16400 is the first support zone where we can expect a strong bounceback while 16200-16000 should be a critical scenario after third support. On the upside, 17000 will be immediate resistance while 17250 will be a critical obstacle

Get our live Calls. Check out latest IPO News, Best Stock Market Articles on Knowledge Corner, get daily reports on premium stocks, know market’s daily calls updates on Tracksheet,  Like us on Facebook and follow us on Twitter