New Delhi: Buyers turned cautious in the Indian stock market on Monday as the number of HMPV virus cases in India increased and infected cases were confirmed in states like Karnataka and Gujarat. This resulted in a decline in key benchmark indices and investors lost nearly Rs 12 lakh crore. On Monday, the 30-share Sensex fell 1,258.12 points (1.59%) to close at 77,964.99. The Nifty fell 388.70 points (1.62%) to close at 23,616.05.

Asian markets affected

The India VIX index, which measures market volatility, rose 2.01 points (14.83%) to 15.55. During this time, the rupee fell 3 paise to a record low of 85.82 against the US dollar. Investors will be focused on the earnings growth of companies in the upcoming quarterly results. Sensex and Nifty fell 1.6% on Monday due to increasing cases of HPV infection and continued withdrawal of foreign capital. Along with this, the fall in rupee and the weak trend of Asian markets also affected the market.

Among the major Sensex stocks, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra and Reliance Industries were the biggest losers. However, Titan and Sun Pharma saw gains. According to analysts, the decline in Indian equity markets may be due to selling by foreign institutional investors (FIIs) and concerns over upcoming quarterly results. In addition, new HMPV infection cases have further fueled bearish sentiment, triggering a new round of selling.

Shares worth Rs 4,227.25 crore sold

According to market data, FIIs sold shares worth Rs 4,227.25 crore on Friday. In Asian markets, Seoul rose, while Tokyo, Shanghai and Hong Kong declined. European markets also had a mixed trend and US markets closed in the positive zone on Friday. Global oil benchmark Brent crude fell 0.25 percent to $ 76.32 per barrel.