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Sensex ends 581 points lower, Nifty below 8,300

by ANI

In money markets, the rupee fell to a low of 75.05 versus the US dollar against the previous close of 74.26

 Representative Image (PTI)

Mumbai: Equity indices recovered some lost ground from the intraday low point on Thursday but ended over 2 percent lower due to concerns over the economic impact of coronavirus pandemic.

In money markets, the rupee fell to a low of 75.05 versus the US dollar against the previous close of 74.26.

The BSE S&P Sensex closed 581 points or 2.01 percent lower at 28,288 while the Nifty 50 was down by 242 points or 2.42 percent at 8,263.

All sectoral indices at the National stock exchange were in the negative zone with Nifty auto down by 5.8 percent, metal by 5.2 percent, realty by 3.4 percent and IT by 3 percent.

Among stocks, Bharti Infratel dropped by 18.2 percent to Rs 122.50 per share while Axis Bank traded lower by 9.6 percent.

Zee Entertainment closed 13.8 percent down and ONGC lost by 10.6 percent. The other prominent losers were Bharat Petroleum Corporation, Bajaj Finance, Hindalco, Maruti, and Mahindra & Mahindra.

However, those which gained were ITC, Bharti Airtel, Infosys, HDFC Bank, and Power Grid Corporation.

Overnight, the Dow Jones Industrial Average dropped by 1,338 points to close at 19,899, its first close below 20,000 since February 2017. The S&P 500 fell by 5.2 percent and the Nasdaq Composite dropped by 4.7 percent to close at 6,990.

As a result, Asian markets traded lower in Thursday’s session as fears over the economic impact of coronavirus pandemic continued to weigh on equity markets.

South Korea’s Kospi led the losses with a drop of 8.39 percent. Hong Kong’s Hang Seng index fell by 2.61 percent and Japan’s Nikkei erased early gains and to close 1.04 percent lower.


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