ANI
28 Jan 2020, 17:58 GMT+10
Mumbai (Maharashtra) [India], Jan 28 (ANI): Equity markets traded with a negative bias on Tuesday as across-the-board selling pressure built up with the spread of coronavirus in China, leading investors globally to a shift from riskier assets to safe havens.
While Asian peers dropped on growing fears about the virus outbreak's economic impact, domestic investors said Indian bourses are expected to remain volatile until the announcement of Union Budget on Saturday.
The BSE SP Sensex closed 188 points lower at 40,967 while the Nifty 50 was down by 59 points at 12,060. Most sectoral indices at the National Stock Exchange were in the red with Nifty metal dipping by 2.39 per cent, auto by 1.23 per cent and PSU bank by 0.62 per cent.
Among stocks, metal majors were the worst sufferers with Vedanta down by 4.5 per cent at Rs 142.10 per share. Tata Steel fell by 2.9 per cent and JSW Steel by 2.8 per cent.
Auto majors too took a beating with Tata Motors edging lower by 3.2 per cent and Maruti Suzuki by 2.1 per cent. Index heavyweight Reliance Industries fell by 2.2 per cent to close at Rs 1,473.50 per share.
However, those which witnessed gains included Bharat Petroleum Corporation, HDFC, Bajaj Finance, Bajaj Finserv and Sun Pharma.
Meanwhile, Asian stocks extended a global selloff as China took more drastic steps to combat a deadly coronavirus. As the death toll reached 106 in China, some health experts questioned whether Beijing can contain the virus which has spread to more than 10 countries.
Japan's Nikkei was down by 0.55 per cent while South Korea's Kospi index skidded by 3.09 per cent.(ANI)Get a daily dose of Business Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Business Sun.
More InformationHUNG YEN, Vietnam: A new US$1.5 billion luxury golf and residential project backed by the Trump Organization officially broke ground...
SYDNEY, Australia: Australian businesses are feeling optimistic about their prospects in China despite escalating global trade tensions,...
DUBLIN, Ireland: The Bank of Ireland has announced an ambitious new target to support the construction of 30,000 homes across the country,...
MOSCOW, Russia: Russia's top oil company, Rosneft, has taken over control of the country's largest rare earth metals deposit, Tomtor,...
GOTHENBURG, Sweden: Volvo Cars is stepping up its collaboration with Google to become the lead development partner for Android automotive...
NEW YORK, New York - U.S. stock markets fell Friday as President Donald Trump launched an extraordinary attack on the European Union,...
BEIJING, China: Huawei has launched its first laptops running on its proprietary HarmonyOS, marking a significant step in its effort...
WASHINGTON, D.C.: The Trump administration is scrutinizing Apple's plans to partner with Chinese tech giant Alibaba to bring its artificial...
SAN FRANCISCO, California: Google One, Alphabet's subscription service that offers cloud storage and AI-powered features, has surpassed...
Positive Hack Days 2025 has become the staging ground for a major deal between Indonesia and Russias top cybersecurity firm BRICS...
The path to full digital autonomy is proving to be not only longer, but far more urgent than many European policymakers had anticipated....
The anti-fraud measure would let borrowers opt to unblock credit access, a senior Interior Ministry representative has said ...