Coronavirus: Sensex Falls Over 1,000 Points, Nifty Drops Below 8,350 As Auto, Banking Stocks Sink

Indian stock markets were trading in red on Monday. During the mid-session, the equity benchmark Sensex dived 1,056 points or 3.54 per cent to 28,760. Similarly, the broader NSE Nifty tanked 270 points or 3.12 per cent to 8,390. It is to be noted that the domestic share market plunged as fears mounted that the global shutdown due to coronavirus could last for months. However, PM Modi-led government stated that there is no such plan to extend the 21-day lockdown.

According to the NDTV report, 35 stocks were trading in the negative at the time. Top losers were Bajaj Finance, HDFC, JSW Steel, Eicher Motors, Mahindra & Mahindra, and Tata Steel. Whereas, Cipla, Tech Mahindra, Dr Reddy's, Bharat Petroleum, and GAIL were among the top gainers.

In the opening session today, Sensex plunged over 1,100 points tracking losses in global equities as unabated spike in COVID-19 cases across the world hammered economic growth. After hitting a low of 28,708.83, the 30-share BSE barometer was trading 855.82 points or 2.87 per cent lower at 28,959.77. Also, the NSE Nifty fell 245.30 points, or 2.83 per cent, to 8,414.95.

On the global front, bourses in Shanghai, Hong Kong, Tokyo, and Seoul were trading significantly lower. Brent crude futures, the global oil benchmark, fell 4.44 per cent to USD 26.71 per barrel. On the other hand, the Indian rupee depreciated 28 paise to 75.18 against the US dollar in the morning trade.

Also Read: Bank Of India Slashes Lending Rate To 7.25 Per Cent

On Friday, the 30-share BSE barometer ended 131.18 points or 0.44 per cent lower at 29,815.59, while the broad-based Nifty closed 18.80 points, or 0.22 per cent, higher at 8,660.25.

(With PTI Inputs)

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