Sensex Slips Over 1200 Points, Nifty Below 10,700 as Coronavirus Fear Spreads, Oil Prices Plunge
The 30-scrip Sensitive Index (Sensex) was down by 1146.73 points at 36,429.89. On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) slumped 318 points to open at 10,670.50 on March 9.
Mumbai, March 9: The Indian equity indices- BSE Sensex and NSE Nifty slumped on Monday with the BSE Sensex trading over 1226 points lower, on persistent fears of coronavirus and slump in oil prices. As COVID-19 cases rose to 40 in India, markets have been affected badly. The 30-scrip Sensex was down by 1226 points at 36,350.61. On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) slumped 318 points to open at 10,670.50 on March 9.
The ONGC, RIL, GAIL and IGL were top index losers as S&P BSE Oil and Gas index slipped 1.74 percent. The early morning trade dragged down by RBL Bank, IndusInd Bank and State Bank of India. COVID-19 Impact on Global Economy.
The benchmark Sensex during Monday's early trade lost over 1200 points led by a sell-off in finance and banking stocks while Nifty witnessed a downward trend to open at 10,670. The decline can be attributed to the concerns that the coronavirus outbreak may significantly disrupt the global economy.
The domestic indices took cues from the US stock futures and the European equities. In India, the total number of confirmed cases of the novel coronavirus in India has jumped to 40.
(The above story first appeared on LatestLY on Mar 09, 2020 09:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).