MARKET UPDATE:Sensex plunges 1,400 points, Nifty below 9,500
Published On: Monday, May 4, 2020 | By: Team KnowMyStock
Today (4th May 2020) the Indian equity markets dipped over 4 percent, tracking weak global cues after the latest flare-up in US-China tensions. Further, yet another extension of the nation-wide lockdown also weighed on investor sentiment. The S&P BSE Sensex tumbled 1,461 points to 32,250 levels and the Nifty50 index hovered around 9,430 levels. Among individual stocks, Hindustan Unilever fell as much as 4 percent after reporting the March quarter results while Reliance Industries was down 2 percent. Tata Steel and ICICI Bank (down 8 percent each) were the top losers in the Sensex pack. Shares of banks, metals, and automobile companies were the worst-hit. All the Nifty sectoral indices were in the red, led by the Nifty Bank index, down over 6 percent.
As for the global cues, Asian indices fell in thin early trade today, with China and Japan on holiday. Australia’s benchmark ASX 200 index fell 0.3 per cent while Hong Kong dropped over 3 per cent. South Korea's Kospi slipped over 1 per cent.
Oil prices also dipped. Brent crude futures were down 3.4 per cent at $25.54 a barrel at 7 AM.
Tags: Market update
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