Sensex down by 704 points to 29,874 and Nifty shed 212 points to trade at 8,754
Published On: Wednesday, March 18, 2020 | By: Team KnowMyStock
Domestic equity indices soon slipped into the negative territory in today’s (18th March) session as investors succumbed to profit booking. Worries about the coronavirus pandemic dampened any hopes that policy measures by major economies would be able to combat the economic fallout of the outbreak. BSE benchmark Sensex was down by 704 points to 29,874 after surging over 500 points in the opening trade. The NSE Nifty shed 212 points to trade at 8,754. Bank and financial stocks were the worst hit with ICICI Bank, Axis Bank, and Kotak Bank contributing most to the losses.
IndusInd Bank dropped 7% to emerge as the biggest loser in the 30-pack index. It was followed by Axis Bank, PowerGrid and Kotak Bank.
Sun Pharma, on the other hand, was the biggest gainer, up 3 per cent.
Sectoral matrix on the NSE was mixed. Nifty Media, Nifty IT, Nifty Metal and Nifty Pharma gained over 1 per cent each. On the other hand, Nifty Private Bank, Nifty Bank, Nifty Financial Services and Nifty Realty traded with cuts.
Globally, MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.3 per cent, led by a 4.9 per cent fall in Australia while Japan's Nikkei gained 1.6 per cent.
U.S. stock futures fell 3 per cent in Asia, a day after the S&P 500 rose 6 per cent and Dow Jones rose 5.2 per cent or 1,049 points.
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