On Monday, January 6, 2025, the Indian stock market experienced a sharp downturn, with the BSE Sensex plummeting 1,441.49 points, or 1.8%, to an intraday low of 77,781.62. Similarly, the NSE Nifty dropped 452.85 points, or 1.88%, reaching a day’s low of 23,551.90. By the end of the session, major stocks like Tata Steel, Kotak Mahindra Bank, NTPC, Power Grid, and Zomato were among the biggest losers, and all sectoral indices closed in the red.
Several factors contributed to the market’s sharp decline. One of the primary concerns is the growing fear surrounding the HMPV (Human Metapneumovirus) virus. Gaurang Shah, the head investment strategist at Geojit Financial Services, pointed out that the emergence of HMPV, following the devastation of the COVID-19 pandemic, has significantly impacted investor sentiment. Reports revealed that two cases of HMPV had been detected in Karnataka, with both cases identified at Bengaluru’s Baptist Hospital.
HMPV is a common respiratory virus, responsible for both upper and lower respiratory infections, similar to the flu or respiratory syncytial virus (RSV). It typically spreads in the winter and early spring months, making its arrival a seasonal concern. As market uncertainty around this new health threat grows, investors have become increasingly cautious, leading to the widespread sell-off seen in today’s trading session.
NEWS DESK
PRESS UPDATE