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The benchmark equity indices on the BSE and National Stock Exchange (NSE) opened nearly 2 per cent lower on Monday amid rising cases of coronavirus (COVID-19) in the country.
The S&P BSE Sensex cracked over 1,000 points in the early trade while the Nifty 50 on the NSE fell slipped over 300 points. At 9:23 am, the Sensex was trading at 48,539.30, down 1,052.02 points (2.12 per cent), while the Nifty was down 322.10 points (2.17 per cent) at 14,512.75.
Financial stocks such as HDFC Bank, ICICI Bank, Housing Development Finance Corporation (HDFC) were the top contributors to the fall in the BSE benchmark in the early trade.
India on Sunday reported 1,52,879 new Covid-19 cases and 839 deaths in the last 24 hours, according to data from the Union Health Ministry. Follow LIVE Updates
All the sectoral indices on the NSE were trading in a sea of red in the early trade on Monday. The key Bank Nifty was trading over 4 per cent lower weighed by RBL Bank, Punjab National Bank and IndusInd Bank. The Nifty Auto index too was down 4 per cent dragged by Ashok Leyland, Tata Motors and Motherson Sumi Systems.
Global market
Asian shares faltered on Monday as investors wait to see if US earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for US inflation and retail sales this week.
MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.6 per cent in slow trade. Tokyo’s Nikkei edged down 0.5 per cent, while South Korean stocks were near flat. Chinese blue chips eased 0.9 per cent ahead of a rush of economic figures from the country.
–global market input from Reuters
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