Sensex falls over 1,400 pts on new Covid strain, 7 lakh cr market cap lost (Roundup)

Mumbai, Dec 21 : A new mutant strain of Covid-19 discovered in the UK spooked global investors and saw India’s stock markets plunge to their biggest single-day fall in the last seven months on Monday.
The two key indices — S&P BSE Sensex and NSE Nifty50 – fell by over 3 per cent.
The day’s carnage saw Sensex losing a total market capitalisation worth around Rs 7 lakh crore.
It is speculated that ‘Basket’ selling by FPIs likely triggered the sharp fall in Indian markets.
Foreign investors pulled-out liquidity worth Rs 323.55 crore on Monday.
Besides, high valuation and absence of any positive trigger added weight to the slide.