BSE Sensex plummetted 3,934.72 points or 13. 15% to 25,981.24; NSE Nifty nosedived 1,135.20 points or 12.98% to settle at 7,610.25
In its worst ever crash, the BSE Sensex plummetted 3,934.72 points or 13. 15% to 25,981.24 on March 23 after several States announced lockdown following a spurt in the number of coronavirus cases.
Likewise, the NSE Nifty nosedived 1,135.20 points or 12.98% to settle at 7,610.25.
In the first hour of Monday’s trade, benchmark indices cracked over 10%, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.
Equities spiralled further lower after trading resumed around 1100 hours.
Global stocks too roiled after nations across the world announced lockdowns in an effort to mitigate the spread of COVID-19 pandemic, spiking fears of a mammoth global recession.
The rupee plummeted 90 paise against the U.S. dollar to 76.10 during the day.
Axis Bank was the top loser in the Sensex pack, tanking over 28%, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T.
Indian benchmark indices followed the carnage in global equities as sentiments dampened further after global governments announced extensive lockdowns to curb the spread of Covid-19, trader said.
Stock exchanges in China, Hong Kong and South Korea plunged up to 5%, while those in Japan ended on a positive note. Bourses in Europe sank up to 4%.
Meanwhile, Brent crude oil futures dropped 5.30% to $25.55 per barrel. The number of global COVID-19 infections has shot past 3,00,000. Worldwide fatalities topped 14,000.
Source: Read Full Article