Sensex Drops 939 Points From Day’s High After New Virus Cases Emerge
A trader reacts while speaking on a fixed line telephone as he looks at financial data on computer screens on the trading floor at ETX Capital, a broker of contracts-for-difference, in London, U.K. (Photographer: Luke MacGregor/Bloomberg)  

Sensex Drops 939 Points From Day’s High After New Virus Cases Emerge

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Sensex Tumbles 939 Points From Day’s High After New Virus Cases Emerge

Indian equities ended lower after a last-hour selloff, extending declines for the seventh consecutive trading session.

The S&P BSE Sensex swung from a gain of as much as 2.05 percent or 785.88 points to end 0.39 percent lower at 38,149.67. The NSE Nifty 50 swung from a gain of as much as 2.06 percent and fell 0.62 percent to close at 11,132.75. The broader markets represented by the NSE Nifty 500 Index fell 0.62 percent.

Sensex Drops 939 Points From Day’s High After New Virus Cases Emerge

That came after two more positive cases of the novel coronavirus—one in Delhi and another in Telangana—were reported, the Union Health Ministry said on Monday.

The person from Delhi had travelled to Italy, it said, adding he is being diagnosed at Ram Manohar Lohia Hospital. The other person with the coronavirus infection has a travel history to Dubai, the ministry added.

The market breadth was tilted in favour of sellers. About 1,105 stocks declined and 701 shares advanced on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 4.6 percent fall. On the flipside, the NSE Nifty IT Index was the only sectoral loser, down 1.4 percent.

With inputs from PTI.

Money Market Update: Rupee Reverses Gains, Turns Sole Asia Loser

The Indian rupee reversed gains against the U.S. dollar to be Asia’s only worst-performing currency. The home currency depreciated as much as 0.37 percent to 72.42 against the greenback.

The local legal tender had appreciated as much as 0.19 percent earlier.

Sensex Drops 939 Points From Day’s High After New Virus Cases Emerge

Yes Bank Worst Performer On Nifty After Two Large Trades

Shares of the private bank declined as much as 13.9 percent, biggest intraday slide in three months, to Rs 29.80 apiece.

That came after nearly 22.3 lakh shares of the lender changed hands in two large trades on National Stock Exchange, according to Bloomberg data. Buyers and sellers were not known immediately.

The stock fell 34 percent so far this year compared with a 7.4 percent fall in Sensex.

Market Check: Sensex Drops Nearly 1,300 Points From Day’s High

Indian equities erased gains during the last-hour trading session.

The S&P BSE Sensex swung from a gain of as much as 2.05 percent to fall as much as 1.34 percent to 38,147 and the NSE Nifty 50 swung from a gain of as much as 1.48 percent to fall as much as 2.06 percent.

That came after two more positive cases of the novel coronavirus -- one in Delhi and another in Telangana - were reported, the Union Health Ministry said on Monday.

The person from Delhi had travelled to Italy, it said, adding he is being diagnosed at Ram Manohar Lohia Hospital.

The other person with the coronavirus infection has a travel history to Dubai, the ministry added.

With inputs from PTI

Hero MotoCorp At Six-Year Low Ahead Of February Sales Announcement

Shares of Hero MotoCorp swung from a gain of as much as 2.87 percent to fall as much as 4.4 percent to below Rs 2,000 for the first time since March 2014.

The company is set to announce its sales data for February.

State Bank Of India At Five-Month Low

Shares of the country's largest state-run lender declined 6 percent intraday Rs 285.10 each—its lowest level since October 2019.

The stock traded at 13 times its 20-day average for this time of the day, Bloomberg data showed. SBI was the second biggest loser on Nifty Index.

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