Why Is the Share Market Down Today? Major Market Crash Following HMPV Cases In Karnataka

All sectoral indices were trading in the red in the afternoon trade, amidst detection of two cases of the Human Metapneumovirus (HMPV) in Karnataka.

New Delhi: Stock market witnessed a massive plunge amid concerns over the detection of Human Metapneumovirus (HMPV) cases in India with both equity indices falling 1 percent.

All sectoral indices were trading in the red in the afternoon trade. Nifty PSU Bank was trading in the red with a decline of more than 3 per cent. Auto, metal, reality and media sectors were down by more than 2 per cent.

At around 12:00 pm, the BSE Sensex was trading at 77,979.54 after declining 1,243.57 points or 1.57 percent. Meanwhile Nifty was trading at 23,607.35 after declining 397.40 points or 1.66 percent. 291 stocks were trading in the green, while 2,221 stocks were in the red on NSE.

Nifty Bank was down 930.85 points or 1.83 per cent at 50,057.95. Nifty Midcap 100 index was trading at 56,604.75 after dropping 1,326.30 points or 2.29 per cent. Nifty Smallcap 100 index was at 18,552.30 after declining 481.40 points or 2.53 per cent.

The Indian Council of Medical Research on Monday detected two cases of Human Metapneumovirus (HMPV) in Karnataka through routine surveillance for multiple respiratory viral pathogens. A three-month-old female infant with a history of bronchopneumonia was diagnosed with HMPV after being admitted to Baptist Hospital in Bengaluru.

An eight-month-old male infant with a history of bronchopneumonia tested positive for HMPV on January 3 after being admitted to Baptist Hospital. 

The World Health Organisation (WHO) is already providing timely updates regarding the situation in China to further inform the ongoing measures.

With Agency Inputs