Indian Market:Â Sensex tumbles down 2713.41 pts, 30-month-low
Mumbai/UNI: The equity market on Monday crashed after a day's halt, investors respond to a rapidly escalating economic hit from the coronavirus and a massive emergency move by the US Federal Reserve to ease policy as the BSE Sensex slumped by 2713.41 points to settle at 31,390.07, 30-month-low.
The Nifty too dropped by 756.10 points to 9199.10. Advancing by 1325 points on Friday, the Sensex opened in red as it fell by 1000 points to 33,103.24. During the day it crashed by 2827 pts to 31,276.30 day low before closing at 31,390.07, sliding by 2713.41 pts from its last close.
The Nifty registered day high and low at 9602.20 and 9165.10 points respectively. The sectoral indices that hit the market were Bankex, Metal, IT, Utilities, Energy, Industrials, IT and Energy.
In scrips, IndusInd Bank was worst hit, down by 17.50 pts followed by Tata Steel, HDFC, Axis Bank and ICICI Bank.
In the broader market, the S&P BSE Mid-Cap index tumbled 5.94 pc while the S&P BSE Small-Cap index crashed 5.66 pc.
Sellers outpaced buyers. On the BSE, 330 shares rose and 1414 shares fell. A total of 96 shares were unchanged. In Nifty 50 index, 1 stock advanced while 49 stocks declined.
The Government announced wholesale inflation numbers for February 2020. The annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 2.26 pc for the month of February 2020 (over February 2019) as compared to 3.1 pc reported in January 2020 and 2.93 registered in February 2019.
Shares in Europe and Asia tumbled as the US Federal Reserve slashed its benchmark interest rate to zero and launched a massive quantitative easing program in an emergency move on Sunday.
Following the Fed decision, US index futures fell sharply. Futures on the Dow Jones Industrial Average were down over 1045 points, implying a steep slide in the US market on Monday.
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