All In Red: Sensex tanks 2,700 points, Nifty below 9,200 (2nd Lead)

Mumbai, March 16 (IANS) Coronavirus fears continued to cause mayhem in the stock markets as the BSE Sensex ended over 2,700 points lower and the Nifty50 on the National Stock Exchange (NSE) settled below the 9,200 mark.

This is the second biggest single-day fall in the history of Sensex.

The rout in the domestic market was in line with the decline in Asian and European markets.

The Sensex closed at 31,390.07, lower by 2,713.41 points or 7.96 per cent from the previous close of 34,103.48. It hat opened at the day’s high of 33,103.24 and touched an intra-day low of 31,276.30 points.

The NSE Nifty50 closed lower by 757.80 points or 7.61 per cent from its previous close of 9,197.40.

A bear run was witnessed across sector on Monday with banking and financial and metal stocks witnessing heavy selling.

As all the stocks on the Sensex ended in the red, IndusInd Bank lost the most (17.5 per cent down), followed by Tata Steel (11.02 per cent), HDFC (10.94 per cent), Axis Bank (10.38 per cent) and ICICI Bank (9.96 per cent).

Yes Bank stocks bucked the bearish trend and surged on Monday and closed 45.21 per cent at Rs 37.10 per share as the bank’s reconstruction scheme has come into effect.

The bank has also said that it will resume its full-fledged operations on Wednesday.

Further, shares of SBI Cards and Payments Services made a weak debut on the stock exchanges on Monday as it opened at Rs 658, nearly 13 per cent lower than its issue price of Rs 755.It ended at Rs 683.20, lower by Rs 71.80 or 9.51 per cent from its issue price.

–IANS

rrb/vd