Sensex Erases Losses, Oscillates 1,500 Points to End in Green at 33,781 Nifty Settles at 9,973
The Sensex was trading at 32,767, down 770 points (2,3 percent). Nse Nifty, on the other hand, was at 9,670.70, down 231.30 (2.34 percent) at 10 am on Friday. The fall in the Indian markets is owing to a mammoth plunge on Wall Street and weakness in the Asian markets.
Mumbai, June 11: The Indian stock market opened in the red and slipped around 3 percent, however it recovered all its losses and ended in the green towards the end of the trading session. The Sensex witnessed 1,508-point swing during the day before settling at 33,781 points, up 243 points or 0.72 per cent. NSE's Nifty ended at 9,973, up 71 points or 0.72 per cent. The Sensex oscillated in the range of 1,508 points while the Nifty touched an intraday low of 9,544.35 and high of 9,996.05.
The Indian markets started on a negative note, tracking the mammoth plunge in the Wall Street markets and weakness in the Asian markets. On Thursday, stocks fell sharply on Wall Street as coronavirus cases in the US increased again, erasing all hopes that the economy would be able to recover quickly from its worst crisis. The Dow Jones Industrial Average sank more than 1,800 points and the S&P 500 slipped 5.9 percent, its worst day since mid-March 2020. India’s COVID-19 Tally Inches Closer to 3 Lakh With 10,956 New Cases in Past 24 Hours, Death Toll Mounts to 8,498.
The Asian stocks were also trading in the red. Japan's Nikkei 225 benchmark index traded 1.52 per cent lower, China's Shanghai Composite, Hong Kong's Hang Seng and South Korea's KOSPI barometers were down 0.51 per cent, 1.03 per cent and 2.48 per cent respectively.
In India as well, the coronavirus cases seem to be galloping and the total tally has now inched closer to the 3 lakh mark. The country reported the highest single-day spike of 10,956 new coronavirus cases and 396 deaths in the last 24 hours. The Centre has announced a slew of relaxations, by uplifting many restrictions, in an attempt to revive the economy. However, the rising coronavirus numbers and the death toll are an area of great concern.
(The above story first appeared on LatestLY on Jun 12, 2020 04:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).