Sensex Sheds Over 60 Points In Early Trade, Nifty Down At 12,085

Indian stock markets on Monday opened in the red due to losses in banking and financial stocks amid rising concerns over coronavirus outbreak. Market benchmark BSE Sensex was trading 65 points, or 0.16 per cent, lower at 41,192.74. Similarly, the NSE Nifty was trading down by 28 points, or 0.23 per cent, at 12,085.45.

In the Sensex pack, top laggards were ONGC, M&M, SBI, ICICI Bank, Bajaj Auto, HDFC L&T, Sun Pharma and IndusInd Bank. On the other hand, TCS, Infosys, NTPC Nestle India, Hindustan Unilever, and Tata Steel were the top drags on the Sensex.

In the meantime, Asian stocks were trading mixed as the death toll from coronavirus increased and concerns over the possible economic fallout from the epidemic. Whereas, Bourses in Shanghai and Hong Kong were trading on a positive note, while those in Seoul and Tokyo slipped in the red.

Brent crude oil futures fell 0.23 per cent to USD 57.19 per barrel. The rupee also depreciated 9 paise to 71.46 against the US dollar in the morning session.

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On Friday, the Sensex fell by 202.05 points or 0.49 per cent to end at 41,257.74, with 22 of its constituents closing with losses. Similarly, the broader NSE Nifty shed 61.20 points or 0.50 per cent to settle at 12,113.50.

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