Indian Equity Markets Plunge on Global Cues, Sensex Down 625 Points in Opening Trading

© AP Photo / Rick RycroftA man stands in the viewing gallery at the Australian Stock Exchange in Sydney, Monday, 9 March 2020
A man stands in the viewing gallery at the Australian Stock Exchange in Sydney, Monday, 9 March 2020 - Sputnik International
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India's benchmark stock index Sensex fell from its February peak of over 42,000 points to just 26,000 when the COVID-19-caused lockdown was announced in the country in late March. The index has rebounded by almost 50 percent from its March lows.

India's stock markets crashed in opening trading on Friday in tandem with a global sell-off triggered by tumbling technology stocks in the US, sending shockwaves across Asia's bourses. 

The Bombay Stock Exchange's Sensex tanked 625.93 points to trade at 38,365 in the opening session, registering a 1.61 percent fall. 

Similarly, the National Stock Exchange's Nifty 50 index also fell 124.70 points to trade at 11,402, registering a 1.08 percent decline in early trading. 

All the sectoral indices of the BSE witnessed sell-offs and were trading in the red. A lot of pressure was witnessed in banking and financial stocks, with prominent banks such Indusind Bank, Axis Bank, Kotak Bankthe , and State Bank of India taking a hit. ICICI Bank suffered the worst loss, plunging 3.07 percent. 

On the back of Thursday's weakness in US markets, Asian stock exchanges were trading at a loss in early trading on Friday. Japan's Nikkei was down 1 percent, Hong Kong’s Hang Seng plunged 1.8 percent, and Australia's ASX 200 was down by 2.8% on Friday. 

 

 

 

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