Sensex, Nifty plunge by nearly 4 per cent

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On Monday, the domestic markets had finished a volatile session on a mixed note with the S&P BSE Sensex index ending 59.28 points.
On Monday, the domestic markets had finished a volatile session on a mixed note with the S&P BSE Sensex index ending 59.28 points.

Dubai - The S&P BSE Sensex index dropped 811.81 points lower at 30,836.19.

By Staff Report

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Published: Tue 21 Apr 2020, 8:26 AM

Last updated: Tue 21 Apr 2020, 5:18 PM

Indian stock markets continued to plunge on Tuesday tracking weakness in global markets, after US crude prices nosedived below the $0 a barrel mark for the first time ever, highlighting an unprecedented global oil gut.
The S&P BSE Sensex index plunged as much as 1,260.46 points or 3.98 per cent to hit 30,387.54 on at the weakest level in the first hour of trade, and the broader NSE Nifty benchmark slid to as low as 8,917.45, down 344.40 points or 3.72 per cent from the previous close.
Reliance Industries (down 3.49 per cent), ICICI Bank (5.68 per cent) and HDFC (3.08 per cent) together accounted for a loss of more than 350 points in the Sensex.
The S&P BSE Sensex index dropped 811.81 points lower at 30,836.19, and the broader NSE Nifty benchmark began the session at 9,016.95, down 244.9 points compared to the previous close. The Indian rupee was quoting at 76.80 against the US dollar, touching Dh20.92.
The Indian currency declined by 14 paise to settle at 76.53 (provisional) against the US dollar on Monday, amid strengthening of the American currency overseas and a sharp rise in coronavirus cases in the country.
Rising covid-19 cases the only bouts of positive momentum for now with the hopes that government and the RBI will take more measures to support the economy against the fallout from the pandemic.
On Monday, the domestic markets had finished a volatile session on a mixed note with the S&P BSE Sensex index ending 59.28 points (0.19 per cent) higher at 31,648.00 and the broader NSE Nifty benchmark settling at 9,261.85, down 4.90 points (0.05 per cent) from the previous close.
Asian equity markets followed Wall Street lower. MSCI's broadest index of Asia-Pacific shares outside Japan fell half a per cent. Japan's Nikkei 225 benchmark fell 1 per cent. - sandhya@khaleejtimes.com



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