Investors lose Rs 4.58 lakh crore, Sensex sees 812-point crash while Nifty ends day shedding 250 points
Indian benchmark indices ended over 2 percent lower on Monday mirroring sell-off in global markets on rising coronavirus cases across the globe.
The broader NSE Nifty 50 index fell as much as 2.19% to 11,252.6 and the benchmark S&P BSE Sensex was down as much as 2.02% each at 38,990.76. Both indexes fell sharply at around 1400 local time (0830 GMT) after European markets opened.
Global markets fell as some European countries such as Denmark, Greece and Spain imposed renewed restrictions on activity due to rising Covid-19 cases, which threatened to stall recovery.
The MSCI world equity index, which tracks shares in 49 countries, was down 0.5% at 0748 GMT.
India VIX, the measure of fear in the market, jumped over 13 per cent to 22.65 reflecting the sentiments of the market community which expects heightened volatility in the market.
The Nifty banking index, which tracks both state-owned and private-sector lenders, fell for a third straight session and was down as much as 3%.
The Nifty metals index slipped about 5.5%. Miner Hindalco fell as much as 9% and was the top percentage loser on the Nifty.
Kotak Mahindra Bank was the top gainer, closing 0.84% higher while IndusInd Bank, Tata Motors, Hindalco, Tata Steel and JSW Steel were the top losers on the Nifty50 index down between 6 percent and 8.5 percent while only 3 stocks – Kotak Bank, Infosys, and TCS were in the green, up 0.25-1 percent.
