Monday, March 16, 2020
Indian benchmark indices were trading over 5 percent lower today,16th March as sell-off resumed after a day's halt.
The uncertainty regarding the effect of the coronavirus endemic continued to keep investors cautious. On Sunday, the US Federal Reserve cut interest rates to near-zero
The S&P BSE Sensex was down 1,857 points, or 5.45 percent, at 32,340 levels. Index-heavyweight HDFC slipped over 7 percent after leading Friday's rebound rally. State Bank of India was also down over 6 percent after Friday's 13 percent up move. IndusInd Bank was down over 8 percent.
In Asian market Stocks were slammed and the dollar battered after emergency rate cut in the United States. US stock futures plunged 4.8 percent to hit their down limit before daybreak in Singapore. Australia's benchmark stock index fell 7 percent in the first quarter-hour of the trade before paring some of the losses.
Oil prices extended losses today, slumping by more than $1 a barrel, nearing $30 a barrel.
