New Delhi (NVI): Indian stock markets fell sharply today as Sensex and Nifty suffered their biggest fall amid coronavirus effect on the global economy.
The Yes Bank crisis has also contributed the fall even as state-owned SBI has devised a strategy to revive the cash strapped lender.
Benchmark indices Sensex plummeted over 1,941 points to 35,634.95 while Nifty slumped 538 points to settle at 10,451.
Due to the sharp fall in oil prices, the benchmark stock indices lost about 5 per cent of their value at the end of trading today, amid a global selloff on concerns that the coronavirus would significantly slow down economic activity.
Global oil benchmark Brent crude futures plunged nearly 30 per cent to USD 31.02 per barrel after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets.
The S&P BSE Sensex shed 1,942 points or over 5 per cent to settle at 35,635.
Reliance Industries (RIL) tumbled around 14 per cent to hit its 52-week low of Rs 1,094.95 on the BSE. It was the biggest contributor to the index’s fall.
On the NSE, the Nifty50 index slipped below 10,500-mark to end at 10,451, down 538 points or 5 per cent.
All the sectoral indices on the NSE ended in the red with metals taking the hardest knock.
Meanwhile, the rupee was trading flat at 73.89 against the US dollar.
In the previous session, the 30-share BSE barometer settled 893.99 points or 2.32 per cent lower at 37,576.62. Likewise, the Nifty tanked 279.55 points or 2.48 per cent to close at 10,989.45.
