Sensex, Nifty worst performers in April amid COVID surge, lockdowns; US stocks surge over 5%

By Surbhi Jain5 days ago

BSE Sensex and Nifty 50 ended lower in April, primarily on account of record surge in COVID-19 cases and fresh impositions such as lockdowns and curfews to curb the spread of disease, which weighed on investor sentiment.

The 30-share Sensex tanked 1.5 per cent while NSE's Nifty fell 0.4 per cent in the month of April

Indian equity market benchmarks BSE Sensex and Nifty 50 ended lower in April, primarily on account of recent record surge in COVID-19 cases and fresh impositions such as lockdowns and curfews to curb the spread of deadly disease, which weighed on investor sentiment. The 30-share Sensex tanked 1.5 per cent while NSE’s Nifty fell 0.4 per cent in the month of April. In comparison, US stock indices, Dow Jones, tech-heavy Nasdaq Composite and S&P 500 indices surged up to 5.4 per cent, mainly driven by strong economic recovery prospects supported by sustained fiscal policy support and US Federal Reserves assurance to provide ample liquidity support, Madan Sabnavis, Chief Economist, CARE Ratings said in a report. According to CARE Ratings, the key drivers of the stock markets were upbeat corporate earnings, mass vaccination drives and phased reopenings, sustained policy support, improved global economic outlook and better than expected macroeconomic data.

AD

On the contrary, factors such as surge in coronavirus cases and deaths, lockdowns and curfews, elevated US treasury yields, inflationary concerns and concerns around vaccination drives were mong ket stock market draggers. The spread of COVID infections and spike in deaths in some countries like India, Japan along with enhanced restrictions/curbs to contain the spread of the virus have also darkened prospects of the pace of economic recovery.

Sensex, Nifty worst performers in April 2021

Continue read on financialexpress.com