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Sensex sheds 586 points over Covid-19 surge in biggest drop since April 30

Inflation, delta variant concerns trigger global risk off sentiment

An index of 100 mid-cap stocks has surged 32% year-to-date, while a similar measure of small-cap names has rallied 43%. (Photo: Bloomberg)
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Analysts said global economic growth shows signs of fatigue as many countries, especially in Asia, are struggling to curb the highly-contagious Delta variant.

Sundar Sethuraman Mumbai
The benchmark indices on Monday declined along with Asian and European peers as investors were worried by the surge in Covid-19 cases and rising inflation. The benchmark Sensex fell 586 points to end the session at 52,553, a decline of 1.10 per cent in the biggest single-day fall since April 30.

The Nifty tumbled 171 points to end the session at 15,752, a drop of 1.07 per cent.

Safe-haven assets, including gold, rose amid risk off sentiment among investors. The US bond yields were trading at their lowest since February 12 at 1.25 per cent. The dollar strengthened against its