Skip to content
Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

Primary Menu Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

Hindi News, हिंदी समाचार, Samachar, Breaking News, Latest Khabar – Pratirodh

  • Home
  • Newswires
  • Politics & Society
  • The New Feudals
  • World View
  • Arts And Aesthetics
  • For The Record
  • About Us
  • Featured

Stocks Plummet Over 12% On Coronavirus Fears

Mar 23, 2020 | Pratirodh Bureau

People walk past the Bombay Stock Exchange (BSE) building in Mumbai on March 9, 2020

Indian shares sank more than 12% by afternoon on Monday as trading resumed after the market’s second halt this month, with investors caught in a selling frenzy as the coronavirus disrupted businesses and sent several states into lockdown.

The blue-chip NSE Nifty 50 index, which fell to a near four-year low of 7,690.1, was down 11.75% at 7,718.85 by 0700 GMT, while the S&P BSE Sensex fell 11.99% to 26,339.2.

Trading in stocks was curbed in the first hour of Monday’s trade as the main indexes plunged 10%, and resumed 45 minutes later.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdown, bringing normal life to a grinding halt. As of Sunday, India had registered 341 cases of coronavirus, with seven deaths.

India’s market regulator, the Securities and Exchange Board of India, on Friday halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb “abnormally high” volatility amid the pandemic.

Broader Asian shares and European stock futures also suffered as a rising tide of national lockdowns threatened to overwhelm policymakers’ frantic efforts to cushion what is likely to be a deep global recession.

In Mumbai’s main stock indexes on Monday, financial stocks led the rout. The Nifty PSU Bank Index, which tracks state-owned lenders, slid 11.5%.

The Nifty Private Bank Index plunged 16.2% to a near four-year low.

Top private-sector lender HDFC Bank Ltd was the biggest drag, falling as much as 13.4%.

The auto sector also took a severe beating as companies halted production across the board. The Nifty Auto Index dropped 13.3%, with Ashok Leyland Ltd sinking 19%.

Tags: BSE Sensex, coronavirus, Nifty PSU Bank Index, NSE Nifty 50 index, Pratirodh, SEBI, Securities and Exchange Board of India

Continue Reading

Previous Canada, Australia Withdraw From Tokyo Olympics
Next Covid-19 Lockdown: India’s Poor Fear For Future

More Stories

  • Featured

“We’ve Got A Lot Of Work To Do. It’s Not Going To Be Easy”

1 hour ago Pratirodh Bureau
  • Featured

Govt. Urges Frontline Workers Not To Refuse Vax As Targets Missed

2 hours ago Pratirodh Bureau
  • Featured

Estonian Firm Seeks Finance From Forests

18 hours ago Pratirodh Bureau

Recent Posts

  • “We’ve Got A Lot Of Work To Do. It’s Not Going To Be Easy”
  • Govt. Urges Frontline Workers Not To Refuse Vax As Targets Missed
  • Estonian Firm Seeks Finance From Forests
  • China, WHO Could Have Acted More Quickly: Probe Panel
  • ‘Advisable To Not Take Vaccine If’: Covaxin Factsheet
  • Opp Seeks Probe Into Security Leak After Goswami’s Messages Emerge
  • Big Oil’s Flagship Plastic Waste Project Sinks In The Ganges
  • Alexei Navalny Flies Home And Straight Into Trouble
  • Amazon Faces Backlash From BJP Lawmakers Over ‘Tandav’
  • One ‘Severe’, 51 ‘Minor’ Cases Of Post-Vaccination Adverse Events
  • Covid Vaccination Campaign: Sanitation Worker Gets First Shot
  • Norway Warns of Vaccination Risks After 23 Die
  • No Headway In Talks Between Govt And Protesting Farmers
  • ‘World’s Largest’ Vaccination Campaign Starts Today
  • Poor Nations Need More Cash To Adapt To Climate Change: U.N.
  • Protesting Farmers, Govt To Hold New Round Of Talks
  • ‘Twitter, Facebook Repeatedly Mishandled Trump’: Wikipedia Founder
  • WhatsApp Faces First Legal Challenge In India Over Privacy
  • World’s Oldest Known Cave Painting Discovered In Indonesia
  • WHO Team Arrives In Wuhan For Coronavirus Origin Probe

Search

Main Links

  • Home
  • Newswires
  • Politics & Society
  • The New Feudals
  • World View
  • Arts And Aesthetics
  • For The Record
  • About Us

Related Stroy

  • Featured

“We’ve Got A Lot Of Work To Do. It’s Not Going To Be Easy”

1 hour ago Pratirodh Bureau
  • Featured

Govt. Urges Frontline Workers Not To Refuse Vax As Targets Missed

2 hours ago Pratirodh Bureau
  • Featured

Estonian Firm Seeks Finance From Forests

18 hours ago Pratirodh Bureau
  • Featured

China, WHO Could Have Acted More Quickly: Probe Panel

18 hours ago Pratirodh Bureau
  • Featured

‘Advisable To Not Take Vaccine If’: Covaxin Factsheet

1 day ago Pratirodh Bureau

Recent Posts

  • “We’ve Got A Lot Of Work To Do. It’s Not Going To Be Easy”
  • Govt. Urges Frontline Workers Not To Refuse Vax As Targets Missed
  • Estonian Firm Seeks Finance From Forests
  • China, WHO Could Have Acted More Quickly: Probe Panel
  • ‘Advisable To Not Take Vaccine If’: Covaxin Factsheet
Copyright © All rights reserved. | CoverNews by AF themes.