The coronavirus-led global sell-off extended to the Indian equity markets as both Sensex and Nifty plunged to their worst in almost a decade. Sensex sank 1,941.67 points to end at 35,634.95 and Nifty tanked 538 points to 10,451.45 in the Monday market mayhem.
Amid the coronavirus scare, global crude oil prices at a historic 29-year low, also dragged down the Indian equity markets. In addition, domestic factors such as the Yes Bank crisic also contributed to the fall. While Yes Bank stock rallied over 31 per cent, SBI was among the major losers in the Sensex pack. Apart from the stock of SBI, other major losers in the Sensex pack included Reliance Industries, IndusInd Bank, Tata Steel, TCS, ICICI Bank and Bajaj Auto.
Heavyweight Reliance Industries shed over 12 per cent. Reliance slumped as much as 13.65 per cent, its biggest single-day fall in at least 10 years, to hit an intra-day low of 1,096.65, data from BSE showed. The global plunge in crude oil prices took a toll on oil stocks as ONGC was among the top losers on Monday.
According to traders, domestic stocks faced massive selloff as the global market rout continued to intensify amid concerns over the adverse impact of rapid spread of coronavirus on the world economy.
After tanking up to 30 per cent earlier in the day, Brent crude oil futures recovered marginally and were 18.33 per cent down at USD 36.97 per barrel.
On the currency front, the Indian rupee depreciated 13 paise to 74 per US dollar (intra-day).