In opening session, both indices plunged over 10 per cent, hitting their lower circuit levels, as new coronavirus-led recession fears triggered panic selling in the market.
As benchmarks world over go into panic mode, insinuating a freakish selloff— Sensex sank 3,213 points in early trade while Nifty crashed by 966.10 points.
The yield on the benchmark 10-year debt slid below 6% for the first time since 2009. The Sensex fell 5.2% to 35,634.95 – its biggest drop since Aug 2015.
ONGC was the top laggard in the Sensex pack, nosediving up to 11 per cent, followed by IndusInd Bank, RIL, PowerGrid, Tata Steel, L&T, SBI and Tech Mahindra.
SBI cracked over 6 per cent and was among the top losers on Sensex following news that it will inject capital into Yes Bank, whose shares also tanked 25 per cent.
All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.
The dynamics between Europe and Russia have gone so south that mending fences looks like an uphill task—even as the US swings between sanctions and olive branches.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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