April 19, 2024


Delighting finance buffs

Sensex, Nifty close over 1.5{b1ee4ac4d8d7b8e1af61a560a11ca52574b8103b547ccac8037ce0cdf9e7ba58} lower on concerns over rising virus cases

The Nifty ended down 1.6 per cent at 9,813.70, while Sensex closed 1.63 per cent lower at 33,228.80.

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, February 1, 2020. REUTERS

Indian shares fell more than 1.5 per cent on Monday, dragged lower by bank stocks, as investors were spooked by a spike in domestic coronavirus cases and fears of a second wave of infections in Beijing and parts of the United States.

The number of Covid-19 cases in India had surged well past 3,32,400 by Monday and deaths were over 9,500, making it the world’s fourth-worst affected country.

The Nifty ended down 1.6 per cent at 9,813.70, while Sensex closed 1.63 per cent lower at 33,228.80.

Beijing reported a spike in new coronavirus cases in recent days, all linked to a major wholesale food market, fuelling concerns about a resurgence of the disease.

Fears of a second wave of infections and a fall in crude oil prices kept global stock markets in negative territory.

Banking stocks were the worst hit in Mumbai trading, with the Nifty banking index and the financial index closing down 3.59 per cent and 2.91 per cent, respectively.

Three of the top five losers on the Nifty 50 were financial stocks.

Shares of Tata Motors Ltd were the second-biggest losers on the Nifty 50 index, ending the session nearly 5 per cent lower ahead of quarterly results.

Reliance Industries, the country’s most valuable company, reversed course to finish the session 1.48 per cent higher.

IndiaToday.in has plenty of useful resources that can help you better understand the coronavirus pandemic and protect yourself. Read our comprehensive guide (with information on how the virus spreads, precautions and symptoms), watch an expert debunk myths, and access our dedicated coronavirus page.
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