Mumbai, March 2: After witnessing a bloodbath last week, Sensex zoomed on Monday. The Indian indices were trading in the green, echoing positive sentiments in Asian markets. Sensex was trading at 38,879, up 600 points. Nifty, on the other hand, was at 11,365, up 1.46 percent. Markets slumped on Friday on the back of rising coronavirus fears. While Sensex had nosedived around 1,500 points, Nifty, on the other hand, ended the day's session at 11,200 amid rising fear on COVID-19's impact on the global economy.

India's factory activity growth slowed in February from the previous month's eight-year high due to a modest weakening in demand and output, although overall conditions remained firm, a private survey showed on Monday. Bloodbath on Dalal Street as Sensex Nosedives Around 1,500 Points, Nifty Ends at 11,200 Amid COVID-19 Impact on Global Economy.

The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 54.5 last month from January's 55.3, above a Reuters poll forecast of 52.8. The Indian rupee appreciated by 20 paise to 72.04 against the US dollar in early trade today tracking positive opening in domestic equities and weakening of the US dollar in the overseas market.

India's gross domestic product (GDP) growth slipped to a nearly 7-year low of 4.7 percent in October-December 2019, on the back of a contraction in manufacturing sector output. Global oil benchmark Brent crude futures rose 3.50 percent to $51.41 per barrel.

(The above story first appeared on LatestLY on Mar 02, 2020 11:38 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).