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Sensex crashes over 1400 pts, Nifty below 14, 450 amid Covid-19 surge

The equity benchmark fell 1,400 points to hit an intraday low of 48,112.17 in early trade on Monday as the country reported a surge in Covid-19 cases. The Nifty too slipped by 365 points to 14,396 in early trade.

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Sensex

The equity benchmark fell 1,400 points to hit an intraday low of 48,112.17 in early trade on Monday as the country reported a surge in Covid-19 cases. With the prospects of another lockdown in Maharashtra continue to weigh on the investor’s sentiment, the 30-stock BSE index crashed 1,394 points to 48,197 against the previous close of 49,591. The Nifty too slipped by 365 points to 14,396 in early trade.

As of 11:40 am, the 30-stock BSE index was trading 3.10 percent lower at  48,054. While the broader NSE Nifty was down by 3.07 percent at 14,378. The investor’s wealth of Rs 6.86 lakh crore tumbled as India hit the second wave of coronavirus.

The plunge in equity indices resulted in the loss of the market capitalization of BSE-listed companies from existing Rs 6,86,708.74 crore to Rs 2,02,76,533.13 crore.  Among the top Sensex losers are Indusind bank, ICICI Bank, Kotak Bank, SBI, Bajaj Finance, Bajaj Auto, with their shares falling as much as 7.82 percent. 27 out of 30 Sensex stocks were trading in red in the morning.  

On the other hand, unaffected by the Covid-19 surge, BSE-listed companies like Infosys, Cipla, Divi’s Labs, and Dr. Reddy’s Labs were among the notable gainers.

According to the experts, the second wave of the coronavirus has a profound impact on the economy and the markets which have spooked investor sentiments. The situation is worst in economically significant Maharashtra, which can impact the market’s assumption of 11 percent growth in GDP and above 30 percent earning growth.

Read Also: With 1.35 crore Covid cases, India takes over Brazil to become second most affected country

In the last 24 hours, India reported fresh cases of 1,69,899 infections, the record rise in daily caseload, since the outbreak of the pandemic. As many as 904 deaths were reported in a single day, taking the total fatalities to 1,70,179. The total tally in India now stands at more than 1.35 crore, overtaking Brazil to become the second most affected country by coronavirus globally after the US.

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West Bengal Governor dissolves Assembly amid political transition 

Governor R N Ravi dissolved the West Bengal Assembly after the 2026 poll results, with the BJP securing a majority in the state elections.

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The West Bengal Legislative Assembly was dissolved following the conclusion of the 2026 Assembly elections, in which the Bharatiya Janata Party secured a clear majority in the state.

Governor R N Ravi issued the order dissolving the Assembly as the state prepared for the transition of power after the election results. According to reports, the BJP won 207 seats in the 294-member Assembly, while the Trinamool Congress secured 80 seats.

Chief Minister Mamata Banerjee questioned the election outcome and alleged irregularities in the poll process, claiming the mandate had been “looted”.

The dissolution came as the tenure of the existing Assembly ended on May 7, 2026. The development has sparked political discussions over the formation of the next government in the state.

Meanwhile, Mamata Banerjee held a meeting with newly elected Trinamool Congress MLAs in Kolkata and reportedly raised concerns over internal sabotage during the elections.

The BJP is expected to begin the formal process of government formation in West Bengal after its decisive victory in the Assembly polls.

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Eknath Shinde’s helicopter returns to Mumbai mid-flight due to bad weather

Maharashtra Deputy Chief Minister Eknath Shinde’s helicopter was forced to return to Mumbai after the pilot detected approaching storm conditions during a flight to Thane district.

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A helicopter carrying Maharashtra Deputy Chief Minister Eknath Shinde was forced to return to Mumbai on Thursday after encountering adverse weather conditions during a flight to Thane district.

According to officials, Shinde had departed from Mahalaxmi Racecourse in south Mumbai around 3.30 pm and was travelling to Murbad in Thane district to attend a wedding function related to a party worker’s family.

The helicopter reportedly reached the Airoli area in Navi Mumbai when the pilot noticed an approaching storm and informed the deputy chief minister about the deteriorating weather conditions. Following the alert, the flight was turned back as a precautionary measure.

The helicopter later landed safely at the Pawan Hans facility in Juhu, Mumbai. Officials said Shinde was accompanied by members of his staff, including personal assistant Prabhakar Kale, special executive officer Balsingh Rajput and media adviser Vinay Patrdukar.

The incident comes amid changing weather conditions and storm activity reported in parts of Maharashtra in recent days.

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Nitish Kumar’s son Nishant among 32 inducted in Bihar cabinet expansion

Nishant Kumar entered the Bihar cabinet for the first time as 32 ministers from NDA allies took oath in a major expansion of the state government.

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Bihar government cabinet

A major cabinet expansion took place in Bihar on Thursday, with 32 leaders from the ruling NDA alliance inducted into the state government. Among the prominent names was Nishant Kumar, son of former Bihar chief minister Nitish Kumar, who entered the cabinet for the first time.

The expansion included representatives from all major NDA allies in the state. According to reports, the BJP secured 15 ministerial berths, while JD(U) got 13 positions. Two ministers were inducted from Lok Janshakti Party (Ram Vilas), while Hindustani Awam Morcha and Rashtriya Lok Morcha received one berth each.

The oath-taking ceremony was held in Patna in the presence of senior NDA leaders, including Prime Minister Narendra Modi, Union Home Minister Amit Shah and Defence Minister Rajnath Singh.

Nishant Kumar’s induction comes weeks after he formally entered active politics. His entry into the Bihar cabinet is being viewed as a significant development for JD(U), which had long projected an anti-dynasty image under Nitish Kumar’s leadership.

The cabinet reshuffle follows Nitish Kumar’s move to the Rajya Sabha earlier this year and the formation of the government led by Chief Minister Samrat Choudhary.

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