Rising cases, delta variant worries rattle domestic and global markets

The domestic markets on Thursday fell along with other global peers as the spread of the new covid-19 variants stoked fears of stall economic revival and derail the reflation trades that has been driving the stocks for months now. The benchmark Sensex fell 486 points to end the session at 52,569, a decline of 0.92 per cent—most since May 12. The Nifty, on the other hand, fell 151 points to end the session at 15,728, a drop of 0.9 per cent.
Asian equities were volatile amid continued losses in Hong Kong-listed Chinese tech stocks. The government’s plan to declare a new emergency battered Japanese stocks, whereas a rise in daily Covid cases scared investors in South Korea.