Indian Market: Sensex tanks 893.99 pts
Mumbai/UNI: Dalal street witnessed another carnage on Friday, as the BSE Sensex dropped by 893.99 points to close at 37,576.62 as banking stocks came under pressure after RBI placed troubled lender Yes Bank under moratorium and took over its board.
The melt down in global market on rising corona virus fears also weighed on the sentiment.
The National Stock Exchange (NSE) too fell 289.45 points to 10,979.55.
The Nifty registered days high and low at 11,035.10 and 10,827.40 points respectively.
The stock opened in red at 37,613.96, sliding by 857 pts. It was slumped by 1459 points to 37,011.09, day low. In late trade, it slightly improved from day low figure to closed at 37,576.62, down by 893.99 points from its last close.
The sectoral indices like Energy, Finance, Industrials, Telecom, Bankex, Metal, Realty and Power dragged the market.
The scrips include Tata Steel, SBI, IndusInd Bank, HDFC and ICICI Bank eased however, buying in Bajaj Auto, Maruti Suzuki and Asian Paints capped from further losses, broker informed.
In the broader market, the S&P BSE Mid-Cap index tumbled 2.36 pc while the S&P BSE Small-Cap index fell 1.92 pc.
The market breadth favored the seller. On the BSE, 476 shares rose and 1934 shares fell. A total of 124 shares were unchanged. In Nifty 50 index, the market breadth was negative with 5 stocks advancing and 45 stocks declining.
Yes Bank slumped 56.17 pc to Rs 16.15 after the Reserve Bank of India (RBI) superseded the board of Yes Bank and imposed a month-long moratorium. Yes Bank was placed under a "moratorium" on late Thursday (5 March 2020), with the Reserve Bank of India (RBI) capping depositor's withdrawals at Rs 50,000 per account for a month.
Shares in Europe and Asia fell across the board following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.
Declining Asian shares and US a stock features following another wall street rout as disruptions to global business from coronavirus beyond China worsened, stoking fear of a prolonged world economic slow down.
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