Sensex tanks 806.89 factors, Nifty closes at 11,829.40; Tata Steel high loser - Nadia24x7

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Monday, February 24, 2020

Sensex tanks 806.89 factors, Nifty closes at 11,829.40; Tata Steel high loser


Indian indices on Monday (February 24) plummeted amid rising considerations over Chinese coronavirus epidemic. The BSE Sensex ended down 806.69 factors, or 1.96 per cent, at 40,363.23, whereas the broader Nifty closed down by 242.85 factors, or 2.01 per cent, at 11,838.60.
Tata Steel was the highest loser within the Sensex pack, adopted by ONGC, Maruti, Titan, ICICI Bank, HDFC, Bharti Airtel, Bajaj Auto and Hero MotoCorp.
Among the sectors, metals plunged over 5 per cent adopted by the auto index which fell over Three per cent.
Notably, concern of additional disruption in financial exercise owing to the leap in coronavirus associated deaths drove the costs of protected haven belongings like Gold to a file excessive and pushed the oil costs and world equities decrease.
Indian benchmark fairness index, Sensex misplaced almost 800 factors throughout the afternoon commerce. At 2.55 pm, the Sensex traded at 40,491.46, decrease by 678.66 factors or 1.65 per cent. The broader Nifty slipped over 200 factors to 11,867.50. Sensex had opened above the 41,000 level mark.
Asian share indexes have been additionally a sea of pink. Korea`s KOPSI Index slipped almost four per cent, Shanghai Composite Index was down 0.28 per cent. Besides, Australia`s benchmark index slid 2.2 per cent whereas New Zealand was about 1.Three per cent decrease.
South Korea and Italy raised alert as a result of hovering Coronavirus circumstances. South Korea reported its seventh coronavirus dying and 161 new confirmed circumstances on Monday, bringing the full quantity to 763.
Risky asset courses like equities traded decrease throughout the globe as Coronavirus associated dying jumped previous 2,600. The lethal virus has contaminated greater than 77,000 individuals in China and was described by Chinese President Xi Jinping because the "largest public health emergency since the founding of the country".
Gold`s record-breaking run continued on Monday as buyers sought increasingly more protected haven belongings over elevated uncertainty attributable to hovering Coronavirus circumstances. Gold futures for April supply topped the Rs 43,000 per 10 gm mark for the primary time.
Global oil costs reversed course over worries that the unfold of virus will dent world development. Global oil benchmark, Brent, which jumped to $60 a barrel final week following a decline in recent circumstances of Coronavirus, tumbled over 3.23 per cent to $ 56.61 barrel mark on Monday

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