INSUBCONTINENT EXCLUSIVE:
Mumbai: The domestic stock market tumbled on Monday weighed down by weakness in global equities, as rising concerns over fast-spreading
coronavirus dampened demand for riskier assets
Investors on Dalal Street also chose to stay on the sidelines ahead of Union Budget 2020.
BSE benchmark Sensex fell 1.10 pe cent or 458.07
points to 41,155.12, while Nifty ended at 12,119.00, down 129.25 points or 1.06 per cent
"Growing catastrophic effect of coronavirus is impacting the world financial markets, raising fears of a slowdown in the global economy
In India investors are turning cautious given selling pressure in the global market and big event risk of Budget announcement this weekend
A lot has been factored in the market about the wish list," says Vinod Nair, Head of Research, Geojit Financial Services
The large-scale risk aversion sent markets across the globe lower
Japan's Nikkei average slid 2 per cent, logging its biggest one-day fall in five months
The US S-P 500 mini futures were last down 1 per cent, having fallen 1.3 per cent in early Asian trade
Private lender HDFC Bank was down 2.51 per cent, while mortgage lender HDFC shed 2.25 per cent
of its components trading in the red
It was down 2.95 per cent.
Rupee declines: A declining rupee hurt the market as well
The Indian rupee declined 12 paise to trade at Rs 71.46 per US dollar.
Market at a glanceMarket breadth was negative with three shares
declining for every two that advanced.
BSE Healthcare was the only sectoral index to close in the green, as it advanced 1.43 per cent
Wockhardt Pharma rallied 18.01 per cent, as the company reported quarterly profit for the first time in three years.
As many as 21 out of 30
Sensex stocks closed lower
Tata Steel and IndusInd Bank were the top losers, as they slumped 4.31 per cent and 3.37 per cent respectively
Ahead of December quarter earnings, Maruti Suzuki edged 0.24 per cent higher.
Anil Ambani-led companies logged declines
Reliance Home Finance, Reliance Power, Reliance Capital and Reliance Infrastructure dropped 4.68 per cent, 4.83 per cent, 4.99 per cent and
The pharma sector was buzzing with strong activity while metals witnessed sharp profit booking
The 12,100 zone remained crucial for the bulls to hold, as a decisive breach below the support zone would provide fresh momentum on the
"Coronavirus outbreak in China took a toll on Indian equities as financials and metals bore the brunt of the selling