Sensex tanks 1,200 pts amid HMPV scare, caution over earnings season
30-share BSE benchmark Sensex tumbles 1,263.16 points to 77,959.95 during afternoon trade; NSE Nifty slumps 403.25 points to 23,601.50
Benchmark equity indices Sensex and Nifty fell sharply during the afternoon trade on Monday amid fresh foreign fund outflows and caution ahead of the earnings season beginning this week.
The crash happened soon after the Centre confirmed two cases of Human Metapneumovirus (HMPV) in Karnataka amid reports of a virus outbreak creating havoc in China. Media reports said stock market investors may have thus chosen to play it safe.
Weak trends from Asian peers also dragged the markets lower.
The 30-share BSE benchmark Sensex tanked 1,263.16 points to 77,959.95 during the afternoon trade. The NSE Nifty slumped 403.25 points to 23,601.50.
From the 30-share blue-chip pack, Tata Steel, Kotak Mahindra Bank, Power Grid, IndusInd Bank, Asian Paints, Zomato and NTPC were among the biggest laggards. Titan and Bajaj Finance were the only gainers.
FIIs offload equities
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,227.25 crore on Friday after a day's breather, according to exchange data.
In Asian markets, Seoul traded higher while Tokyo, Shanghai and Hong Kong quoted lower. US markets ended in positive territory on Friday.
Global oil benchmark Brent crude dipped 0.37 per cent to USD 76.23 a barrel.
The BSE benchmark tumbled 720.60 points or 0.90 per cent to close at 79,223.11 on Friday. The Nifty tanked 183.90 points or 0.76 per cent to 24,004.75.
With agency inputs
