Indian Markets: Sensex Sheds Over 40 Points In Early Trade, Nifty Down At 11,290

Indian stock markets on Wednesday opened in the red due to losses in banking and financial stocks amid rising concerns over coronavirus outbreak. Market benchmark BSE Sensex was trading 47.12 points, or 0.12 per cent, lower at 38,576.58. Similarly, the NSE Nifty slipped 10.20 points, or 0.09 per cent, to 11,293.10.

According to PTI, in the Sensex pack, top laggards were IndusInd Bank, Tata Steel, HDFC Bank, SBI and ICICI Bank. On the other hand, Bajaj Auto, Asian Paints, Bharti Airtel, and HCL Tech were the top drags on the Sensex.

Elsewhere in Asia, bourses in South Korea rallied over 2 per cent after the country reported a significantly lower increase in the number of fresh coronavirus cases than the day before. However, stock exchanges in China, Hong Kong, and Japan were also trading with gains in their morning sessions.

In the meantime, the rupee appreciated 24 paise to 72.95 against the US dollar in the morning session. Whereas, global oil benchmark Brent crude futures jumped 1.45 per cent to USD 52.61 per barrel.

Also Read: Fuel Prices Remain Unchanged: Check Latest Petrol, Diesel Rates On March 4

In the previous session i.e. on Tuesday, the 30-share BSE barometer surged 479.68 points or 1.26 per cent to end at 38,623.70, and the broader Nifty jumped 170.55 points or 1.53 per cent to close at 11,303.30.

RELATED