Market

Market extends losses as trading resumes; Sensex down 3,100 points, Nifty below 7,900

Updated : March 23, 2020 11:06 AM IST

At 9:15 am, the Sensex opened 2,307.16 points, or 7.71 percent, lower at 27,608.80, while the Nifty50 index opened at 7,945.70, down 799.75 points, or 9.14 percent.

Broader indices dragged benchmarks, with Nifty Smallcap100 and Nifty Midcap100 indexes plunging over 7 and 6 percent, respectively.

Every stock in Nifty50 was trading lower.

Indian markets extended losses as trading resumed after the benchmark Sensex hit lower circuit in the early trade on Monday. At 11 am, Sensex plunged 3,191.79 points or 10.65 percent at 26,724.17 while the Nifty fell 923.95 points or 10.56 percent at 7,821.50.

Nifty Bank also tanked 13.01 percent to 17,674.90.

The indices hit lower circuit of 10 percent on Monday after opening sharply lower following steep losses following Asian peers amid national lockdowns as governments attempt to stave off the fast-spreading coronavirus pandemic.

At 9:58 am, the Sensex hit lower circuit falling 10 percent or 2,991.85 points at 26,924.11, while the Nifty50 index plunged 842.45 points or 9.63 percent at 7,903.00.

Pre-open session resumed at 10:43 am.

All the sectoral indices were trading 4-14 percent lower.

Adani Ports & SEZ, IndusInd Bank, Axis Bank, ICICI Bank and Bajaj Finance led the losses among Nifty50 constituents.

Earlier, Dalal Street began to trade at 9:15 am, the Sensex opened 2,307.16 points, or 7.71 percent, lower at 27,608.80, while the Nifty50 index opened at 7,945.70, down 799.75 points, or 9.14 percent.

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