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Business: Sensex plunges 10 pc, trading halts for 45 mins
Equity benchmark Sensex sank nearly 3,000 points to hit its lower circuit limit in morning session on Monday, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession.
Mumbai: Equity benchmark Sensex sank nearly 3,000 points to hit its lower circuit limit in morning session on Monday, triggering a 45-minute trading freeze as coronavirus-led lockdowns across the world stoked fears of a massive global recession. After opening 2,718 points lower, the BSE barometer plunged 2,991.85 points or 10 per cent to 26,924.11.
Similarly, the NSE Nifty fell 842.45 points, or 9.63 per cent, to 7,903. As an automatic mechanism to freefall in the market, when an exchange plunges 10 per cent before 1 pm, trading is halted on stock exchanges for 45 minutes.
All Sensex components were trading in the red, with Axis Bank tanking up to 20 per cent, followed by ICICI Bank, IndusInd Bank, Bajaj Finance, Hero MotoCorp and M&M.
Bourses in Shanghai, Hong Kong and Seoul plunged up to 4 per cent, while Tokyo was trading with gains. The rupee too plunged 92 paise against US dollar to 76.12.
The number of global Covid-19 infections has shot past 3,00,000. Worldwide fatalities topped 14,000. Cases in India rose to 390 over the weekend, according to the Health Ministry.(PTI)
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