March 29, 2024

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Delighting finance buffs

Coronavirus: Markets remain volatile as Sensex falls over 400 points

At around 9:35 am, BSE Sensex was trading 407.81 points or 1.44 per cent lower at 27,857.50, while NSE Nifty was down 110.70 points at 8,143.10 points. Bank and financial stocks suffered as volatility remains high in the domestic markets.

Analysts say that the stock markets in India could see choppy trade till there is clarity on the situation after the lockdown ends of April 14. (Photo: Reuters)

HIGHLIGHTS

  • Domestic markets on Friday opened in negative territory
  • At around 9:35 am, BSE Sensex was trading 407.81 points lower
  • Bank and financial stocks suffered as volatility remains high in the domestic markets.

Domestic markets on Friday opened in negative zone as investors remain worried about the economic impact and uncertainty over the novel coronavirus pandemic.

At around 9:35 am, BSE Sensex was trading 407.81 points or 1.44 per cent lower at 27,857.50, while NSE Nifty was down 110.70 points at 8,143.10 points. Bank and financial stocks suffered as volatility remains high in the domestic markets.

Some of the top losers in early trade are Kotak Mahindra Bank, Induslnd Bank, IDFC Bank, ICICI Bank, HDFC Bank, Hero MotoCorp and Asian Paints.

On the NSE, all sectoral indexes were trading in red except Nifty Pharma, highlighting a marked weakness in most sectors.

Analysts say that the stock markets in India could see choppy trade till there is clarity on the situation after the lockdown ends of April 14.

While markets were closed on account on Ram Navami on Thursday, factory activity data released yesterday also weighed in on the markets today. On Wednesday, Sensex had fallen over 1,200 points while Nifty plunged over 340 points.

Globally, stocks rose on expectations of a possible oil deal between Saudi Arabia and Russia, but doubts are already rising over the deal brokered by US President Donald Trump.

Read | Business in times of corona: How some firms are battling odds amid Covid-19 pandemic

Also Read | Coronavirus in India: How corporate India is helping tackle virus outbreak

Watch | India battles coronavirus as Covid-19 tally crosses 2,000

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