Sensex down by 2,500 points, Nifty below 8,000; trading resumes after 45-minute halt

Domestic benchmark indices opened in the red on Monday morning as India locked down more than 80 districts to tackle the Coronavirus which has taken 7 lives in the country. S&P BSE Sensex tanked below 10% in the initial hour of trade, hitting lwer circuit as trading halted for 45-minutes. The broader NSE Nifty-50 slipped 800 points to sit slightly below the 8,000 mark. All sectoral indices were trading deep in red on NSE with Nifty Bank losing the most, followed by Nifty Metal. On the other hand, all 30 constituents of the S&P BSE Sensex were down with Bajaj AutoBajaj Finance and Hero Moto Corp being the biggest losers, all falling 10 per cent.

The total number of cases in India inched closer to 400 on Sunday as India praticed a ‘junta-curfew’. More than 80 districts have been locked down by the state governments and the central government to prevent the spread of Coronavirus.  Although a lockdown has been imposed, essential services will still continue to operate. The Reserve Bank of India, in a bid to fight the Coronavirus and still stay operational has devided its team into three, working from different locations. Interstate bus services have been halted, although airport remains operational. Ride hailing application Uber has suspended services.

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